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US: Wall Street tumbles on growing recession worries

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Published Mon, Aug 5, 2024 · 09:47 PM
    • epa11520221 A person walks past American flags hanging on the front of the New York Stock Exchange in New York, New York, USA, 02 August 2024. The United States Bureau of Labor Statistics released an 'Employment Situation Summary' reports on 02 August that the unemployment rate in the United States rose to 4.3 percent in July 2024. Investors reacted negatively to the economic news, leading the Dow Jones industrial average to lose over 800 points during the day. EPA-EFE/OLGA FEDOROVA
    • epa11520221 A person walks past American flags hanging on the front of the New York Stock Exchange in New York, New York, USA, 02 August 2024. The United States Bureau of Labor Statistics released an 'Employment Situation Summary' reports on 02 August that the unemployment rate in the United States rose to 4.3 percent in July 2024. Investors reacted negatively to the economic news, leading the Dow Jones industrial average to lose over 800 points during the day. EPA-EFE/OLGA FEDOROVA EPA-EFE

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    WALL Street’s main indexes tumbled on Monday (Aug 5), as fears of the United States tipping into recession following weak economic data last week rippled through global markets.

    The Dow Jones Industrial Average fell 681.07 points, or 1.7 per cent, at the open to 39,056.19.

    The S&P 500 opened lower by 195.42 points, or 3.7 per cent, at 5,151.14, while the Nasdaq Composite dropped 1,063.63 points, or 6.3 per cent, to 15,712.53 at the opening bell. REUTERS

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