US Stocks Plunge on Weak Economic Data and Tech Earnings Disappointments

Driven by a wave of negative economic indicators and disappointing earnings from major tech companies, the US stock market experienced a significant downturn. The decline, which began on Thursday, accelerated on Friday following a jobs report that showed weaker-than-expected job growth and an unexpected rise in unemployment. This combination of factors has led investors to worry about a potential recession and question the Federal Reserve`s approach to interest rate cuts. While previously, signs of a slowing economy were seen as positive for the stock market due to the expectation of rate cuts, investors are now concerned that the economy may be weakening too quickly. This shift in sentiment has resulted in a significant sell-off, with all major US stock indexes experiencing substantial losses.