The Dow Jones backslid 400 points on Thursday as economic concerns persist.
Investors are growing increasingly worried about a recession as hiring slows.
Friday’s NFP jobs data dump looms over the horizon as investors begin to stress.
The Dow Jones Industrial Average (DJIA) ground 400 points lower on Thursday, shedding weight for the second time this week after US jobs data came in below expectations. Equities have since recovered from the day’s initial shock selloff, but the Dow Jones is struggling to return to flat for the day. ADP Employment Change showed its slowest rate of job additions since February of 2021, sparking a fresh round of risk aversion as investors grapple with the threat of a possible recession within the US economy.
According to payroll processor ADP, the US added 99K net new jobs in August, down from July’s revised 111K and well below the expected 145K. August’s ADP additions are the lowest print since early 2021, sparking a fresh round of risk aversion and reigniting investor concerns that the US could be heading into a recession.
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