🎙️ Voice is AI-generated. Inconsistencies may occur.
Stocks tumbled on Friday as investors faced a combination of new trade tariffs and a weaker-than-expected U.S. jobs report.
The Dow Jones Industrial Average plummeted 542 points, or 1.2 percent, while the S&P 500 fell 1.6 percent and the Nasdaq Composite dropped 2.2 percent.
On Friday, the July jobs report showed jobs growth had slowed to just 73,000, well below the 100,000 estimate.
President Donald Trump reacted to the disappointing news by firing Dr. Erika McEntarfer, the commissioner of the Bureau of Labor Statistics, whom he accused of manipulating the reports for “political purposes.”
This is a breaking news story, updates to follow.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Read the full article here
