NOT FOR REPRINT
S&P 500 Is Set for Worst Jobs Day in Two Years
By
Janet Levaux
News August 02, 2024 at 02:09 PM
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What You Need To Know
- A plunge in key technology companies sent the Nasdaq 100 down 10% from its peak, matching the definition of a correction.
- Wall Street banks are ramping up expectations for an aggressive Fed easing cycle based on the latest evidence that the labor market is cooling.
- In the history of the start to Fed easing since 1970, cuts in response to a downturn have proved negative for stocks and positive for bonds.
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