US stock markets experienced a significant downturn on Friday, concluding a week of fluctuating investor sentiment. The Dow Jones Industrial Average closed at 43,589 points, reflecting a 1.2% decrease from the previous trading day.
The broader S&P 500 registered around 6,238 points, down 1.6%, while the technology-focused Nasdaq 100 closed at approximately 22,763 points, marking a 2.0% decline.
Recent economic data is prompting a reassessment of the US economic outlook. Despite indications of resilience in the face of trade policies, the July jobs report presented a surprising picture. The economy added 73,000 jobs, considerably less than anticipated, with significant downward revisions to the figures for May and June. This report has triggered a swift reaction, including personnel changes within the US statistics agency.
The unexpectedly weaker labour market strengthens the possibility of further interest rate reductions by the Federal Reserve. The central bank’s dual mandate, which prioritizes both price stability and maximum employment, now leans towards accommodative monetary policy.
The Euro strengthened considerably on Friday evening, trading at $1.1581 (+1.43%), placing the dollar at €0.8635.
Gold prices surged, reaching $3,360 per fine ounce (+2.1%), equivalent to €93.27 per gram.
Conversely, crude oil prices declined notably. Brent North Sea crude traded at $69.60 per barrel, a decrease of 210 cents, or 2.9%, compared to the end of the previous trading day.
