FXStreet (Córdoba) – US stock futures turned sharply lower as disappointing nonfarm payrolls report fueled concerns over the global growth outlook, weighing on equities.
The US economy created just 142,000 new jobs in September, far below the 203,000 expected, while August and July gains were downwardly revised by a combined 59,000. The unemployment rate stood at 5.1% as expected.
Stock futures that were slightly up before the release made a nasty U-turn. Futures for the Dow Jones fell -1.24%, while S&P 500 futures dropped -1.36% and futures for the Nasdaq-100 index lost 1.31%.
The weak report also raised doubts that the Fed will remain on track to raise interest rates this year.
(Market News Provided by FXstreet)