US stocks tumble on weak jobs report | Fin24
  • Trump and Tariffs

    Face-to-face trade meetings with China on the horizon.

  • Peter Moyo

    What is next for Old Mutual and its on-and off-again CEO Peter Moyo as legal manoeuverings continue?

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.


US stocks tumble on weak jobs report

Oct 02 2015 16:00

New York - Wall Street stocks opened sharply lower on Friday after the September employment report showed the US economy added just 142 000 jobs last month.

Five minutes into trade, the Dow Jones Industrial Average was at 16 031.73, down 240.28 points.

The broad-based S&P 500 fell 1.49% to 1 895.25, while the tech-rich Nasdaq Composite Index dropped 1.50% to 4 557.77.

The jobs report fell far short of estimates that the US economy added 205 000 jobs in September. The Labour Department also trimmed its estimates for jobs growth in July and August.

Analysts lowered the odds the US Federal Reserve will imminently raise interest rates.

"These data help the case for the Fed to stay on hold in October," said Jim O'Sullivan, chief US economist at High Frequency Economics.

equities  |  wall street  |  markets


Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What's your view on deep sea mining?

Previous results · Suggest a vote