Wall Street opens lower and bond yields sink following weak hiring numbers and new tariffs
NEW YORK (AP) — Stocks are opening lower on Wall Street and Treasury yields are falling sharply after the government reported a sharp slowdown in hiring last month. Markets are also reacting early Friday to the latest tariff news. The S&P 500 fell 1% in the first few minutes of trading.
The Dow Jones Industrial Average sank 383 points, or 0.8%. The Nasdaq composite was down 1.4%. The suprisingly weak hiring numbers led investors to step up their expectations for an interest rate cut in September.
President Donald Trump issued a new set of sweeping import duties that will apply to dozens of countries as of Aug. 7.
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