Topline
All three major indexes fell Friday, as stocks declined following a report indicating the U.S. economy added fewer jobs than expected last month, kindling concerns of a recession.
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Key Facts
The Dow fell 610 points (1.5%) as the S&P 500 and Nasdaq dropped 1.8% and 2.4%, respectively, as trading closed.
The Nasdaq entered correction territory after falling more than 10% from its recent high of 18,671.07 set on July 10, ending the index’s worst day since Oct. 24, 2023.
The Cboe Volatility Index—often called Wall Street’s “fear gauge”—increased to as high as 29.66, the highest level for the index since March 2023, indicating increased volatility across all markets over the next 30 days.
A broader market selloff was led by Intel, whose shares plunged 26% for the company’s worst day since 2000 after reporting earnings that missed analyst expectations, while Amazon…
