12/2/2022, 3:30 PM (Source: TeleTrader)
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US sees sell-off at open after unemployment data

Major stock indexes in the United States opened in the red territory following a crucial data release that saw nonfarm employment rise by a higher-than-expected 263,000 in November, while the unemployment rate remained unchanged from the previous month. Investors set their sights on the Federal Reserve’s policy decision set for December 14, expected to slow down the pace of rate rises. In addition, the US Senate approved the tentative railway labor agreement yesterday, averting strikes across the country.

The Dow Jones lost 0.83% at the opening bell, as Intel pulled the index down by 2.82%. The Nasdaq fell by 1.38%, with Zscaler plummeting by 11.35%. The S&P dropped 0.98%, with Carnival decreasing by 4.11%.

The euro traded 0.44% lower compared to the dollar, going for 1.04771 at 9:33 am ET. The pound sterling was down 0.37% compared to the greenback, exchanging hands for 1.21935 at the same time.

Baha Breaking News (BBN) / MX