Wall Street's Worst Week Since March

This is a U.S. news story, published by CBS News, that relates primarily to U.S. Steel news.

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disappointing July jobs report

CBS News

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S&P 500 heading for its worst week since March 2023

Summary

Nutrition label

82% Informative

S&P 500 tumbled 1.6% in afternoon trading, putting it on pace for its worst week since March 2023 .

Nasdaq composite sank 2.6% , Dow Jones Industrial Average sank 452 points, or 1.1% , after flipping an early gain of 250 points.

The market swooned after the August jobs report showed U.S. employers hired fewer workers than economists expected.

It's the second straight month where hiring has come in below forecasts.

More than 80% of stocks in the S&P 500 were falling.

U.S. Steel rose 5.6% after the CEO of rival Cleveland Cliffs said he would still be interested in acquiring U.K. Steel if the White House were to block its proposed sale to Nippon Steel .

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful