Stocks Head For Worst Week Since March 2023

The stock market is experiencing its worst weekly decline since March 2023, with the S&P 500 and Nasdaq falling sharply following a disappointing August jobs report. The labor market data showed fewer job additions than expected and downward revisions for previous months, raising concerns about economic cooling. This has led to increased volatility in both stock and bond markets as investors reassess their expectations for Federal Reserve rate cuts. While the unemployment rate slightly decreased, the overall jobs report has intensified debates about the pace of economic slowdown and the Fed’s potential response.