Equity Alert
US indices decline Fri on poor Aug non-farm payrolls data
This story was originally published at 07:51 IST on 8 September 2025
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Equity Alert: US indices decline Fri on poor Aug non-farm payrolls data
MUMBAI--0739 IST--Stock indices in the US closed lower Friday as worse than expected jobs data weighed on sentiment and fuelled concerns about economic growth. Bank stocks were among the worst hit, with the S&P 500 bank index ending 2.4% lower.
Non-farm payrolls data showed the US economy created 22,000 jobs in August, much lower than the 75,000 jobs expected. This also was a sharp slowdown from the increase of 79,000 in July. The weak data added to recent signs of the labour market weakening and is likely to keep the Federal Reserve on track for a widely anticipated interest rate cut later this month.
"It's going to take more than one bad data set for us to dislodge this market at this point," Reuters quoted Pete Mulmat, chief executive officer of IG North America, as saying. BofA Global Research adjusted its outlook for the US market following the jobs report, forecasting a 25-basis-point rate cut each in September and December.
Despite a weak market, Broadcom soared over 9% a day after the chipmaker unveiled a $10-billion artificial intelligence chip order from a new customer and forecast fourth-quarter revenue above estimates, Reuters reported. Kenvue fell 9?ter The Wall Street Journal reported, citing people familiar with the matter, that US Health Secretary Robert F. Kennedy Jr. plans to announce that use of the company's pain medication Tylenol by pregnant women is potentially linked to autism. Lululemon Athletica plunged 19% after the yogawear-maker slashed its annual profit forecast the second time in a row.
Following are the closing levels of US indices Friday:
| INDEX | LAST LEVEL | CHANGE IN % |
| Dow Jones Industrial Average | 45400.86 | (-)0.48 |
| NASDAQ Composite | 21700.388 | (-)0.03 |
| S&P 500 | 6481.50 | (-)0.32 |
(Akash Mandal)
End
US$1 = INR 88.27
Edited by Avishek Dutta
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