Wall St. extends losing streak following poor US job data


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Wall St. extends losing streak following poor US job data

On Friday, the 8th of March 2019, Wall St.’s three major indexes had fallen again into the negative territory, posting a plunge for five straight sessions in a row, as investors’ outcry became more penetrating after release of a weak Job report that fueled further concerns of a slowing global economy.

Besides, after the release of a set of disdainful data on Friday (March 8th) displaying a steep contraction in the US payroll and a frustrating job growth figure, the Wall St. posted their largest weekly decline since December 2018.

Never the less, the Friday’s (March 8th) US session began with a sideway movement, but the stocks started to extend losses later in the day, as investors had absorbed the employment report and reassessed whether the market slowdown had been getting pervasive.

Following the release of US employment report and payroll data, it had been a matter of time before another tottering unveiled itself. US job growth almost halted in February, as the US economy created only 20,000 thousand jobs, missing Wall St.

estimation of 1,80,000 jobs widely, while the US Labor Department’s payroll report displayed its weakest data since September 2017. At the day’s market closure, the Dow lost 0.09 percent and S&P posted a plunge of 0.21 percent, while the tech-heavy Nasdaq Composite dropped 0.18 percent.