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US stocks close | On the "non-farm day", US stocks plummeted, with the Nasdaq down 2.55%, and NVIDIA down more than 4%; US bonds surged, with Brent oil hitting a nearly three-year low.
The poor non-farm payroll data in August may lead the Fed to support a significant interest rate cut. The S&P fell 1.7% for the week, dropping over 4%, while the Dow fell 1% for the week, dropping nearly 3%, and the Nasdaq fell 2.6% for the week, dropping 5.8%, entering a technical consolidation phase.
S&P 500 Suffers Largest Weekly Drop Since March 2023 Banking Crisis, Chipmakers Notch Worst Week In Over Four Years