U.S. stock market early session | The three major Indexes all declined, with the Nasdaq down over 2%; Technology stocks plummeted, with AMD falling more than 5%; Blue-chip stocks surged against the trend! Pharmacy stock WBA rose over 25%.
On the evening of October 10 in Peking, US stocks opened lower on Friday. The surge in US bond yields put pressure on the stock indices, with the 30-year US bond yield rising to 5%. The non-farm payroll data for December significantly exceeded expectations, and the unemployment rate fell, leading investors to lower their expectations for a rate cut by the Federal Reserve.
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In the U.S. stock market, strong non-farm payroll data reduced interest rate cut expectations; the Dow Jones fell 370 points in the early session, and NVIDIA dropped nearly 4%.
In December, non-farm employment in the USA increased by 0.256 million, exceeding expectations, while the unemployment rate unexpectedly fell to 4.1%. The market estimates that the Federal Reserve will pause its rate-cutting actions. The three major US stock indices opened lower on Friday, with the Dow Jones dropping by as much as 370 points early on and the NASDAQ falling 1.7%. The S&P 500 Index opened down 27 points or 0.5%, at 5,890 points; the Dow opened down 94 points or 0.2%, at 42,540 points; and the NASDAQ opened down 166 points or 0.9%, at 19,312 points. Technology stocks weakened, with NVIDIA (NVDA.US) dropping nearly 4%, and Amazon (AMZN.US), Apple (AAPL.US) among others.