REUTERS - U.S. stocks opened sharply lower on Friday after data showed a lower-than-expected rise in nonfarm payrolls in September, raising doubts that the economy is strong enough to absorb an interest rate increase this year.
A small hike in rates could help calm volatile equity markets and start giving the Fed some ammunition to deal with any future economic slowdowns.
The Dow Jones industrial average fell 84.05 points, or 0.52 percent, to 16,187.96, the S&P 500 lost 14.19 points, or 0.74 percent, to 1,909.63 and the Nasdaq composite dropped 58.21 points, or 1.26 percent, to 4,568.88.
(Reporting By Samantha Kareen Nair in Bengaluru; Editing by Saumyadeb Chakrabarty)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app