Stocks lose more ground on fears a recession may be looming
Since their yearly highs, stocks have fallen by more than 20% due to concerns about inflation, interest rates, and the prospect of a recession.
Despite the robust state of the U.S. labour market, investors were fearful on Friday, sending the market tumbling.
The S&P 500 closed 2.8% down after briefly falling 3.3% as traders assessed a report indicating businesses recruited more employees than projected.
The market is progressively realising that the Fed is unlikely to shift soon as some had hoped.
Last month, companies created 263,000 positions. Slower than July's 315,000 hires, but still more than economists predicted.
We're not out of the woods yet, but proactive policy should help, says Janus Henderson Investors' Matt Peron.
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