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US stocks slump on latest tariffs, soft jobs data
Business World Philippines
|August 04, 2025
US. stocks slumped on Friday, and the S&P suffered its biggest daily percentage decline in more than two months as new US tariffs on dozens of trading partners and a surprisingly weak jobs report spurred selling pressure.
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Also weighing on equities was an 8.3% tumble in Amazon.com shares after the company posted quarterly results but failed to meet lofty expectations for its Amazon Web Services cloud computing unit.
Just hours before the tariff deadline on Friday, President Donald J. Trump signed an executive order imposing duties on US imports from countries, including Canada, Brazil, India and Taiwan, in his latest round of levies as countries attempted to seek ways to reach better deals.
Further denting confidence in the economic picture, data showed US job growth slowed more than expected in July while the prior month's report was revised sharply lower, indicating the labor market may be starting to crack.
The report significantly pushed up expectations the US Federal Reserve will cut interest rates at its September meeting.
Diese Geschichte stammt aus der August 04, 2025-Ausgabe von Business World Philippines.
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