Wall Street set to fall as solid jobs data fuels rate hike worries

Follow-ups -eshrag News:

Fri, 2022-08-05 16:24

NEW YORK: Wall Street’s main indexes were set to open sharply lower on Friday as a solid jobs report bolstered the case for the Federal Reserve to continue on its aggressive policy tightening path, according to Reuters.

Data showed US employers hired far more workers than expected in July, with the unemployment rate falling to a pre-pandemic low of 3.5 percent, the strongest evidence yet that the economy was not in recession.

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Business & Economy

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