Traders work on the floor of the New York Stock Exchange during afternoon trading on August 02, 2024 in New York City.
Michael M. Santiago | Getty Images
This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.
What you need to know today
Jobs shock hits stocks
U.S. stocks plummeted on Friday after a weaker-than-expected jobs report added to fears of a recession. The S&P 500 shed 1.84% while the Dow Jones Industrial Average retreated 1.51%. The Nasdaq Composite dropped 2.43% and is now in correction territory, having declined more than 10% from its recent high. Treasury yields fell across the board, with the 10-year yield hitting its lowest level since December 2023. The odds of a 50-basis point cut to the Federal Reserve’s benchmark rate stand at 69.5% from 22%…
