Dow tumbles more than 600 points after weak jobs report

Stocks tumbled for the second-straight day Friday as a weaker-than-expected jobs report and a dismal forecast from Amazon added to investor fears of a more substantial slowdown for the U.S. economy.

Stocks tumbled for the second-straight day Friday as a weaker-than-expected jobs report and a dismal forecast from Amazon added to investor fears of a more substantial slowdown for the U.S. economy.

The Dow Jones Industrial Average closed down 611 points, or 1.5%. The S&P 500 dropped 1.8%, while the Nasdaq Composite lost 2.4%.

Early Friday, the Bureau of Labor Statistics reported that the U.S. added just 114,000 jobs in July — well below the 185,000 expected and down significantly from 206,000 in June.

Meanwhile, the unemployment rate climbed to 4.3%, from 4.1% — its fourth-straight monthly increase and its highest level since October 2021.

The market was already primed for losses as it opened following a negative quarterly earnings report from Amazon late Thursday. The e-commerce giant said customers were "continuing to be cautious in their spending" amid a thinner financial cushion and the continued impact of higher prices.

https://www.nbcnews.com/business/markets/dow-plummets-weak-jobs-report-how-much-rcna164879

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