U.S. stocks fell on Friday, Aug. 4, following the release of a July jobs report that showed weaker-than-expected employment growth and downward revisions to previous months’ data.
The Department of Labor reported that job creation in July missed forecasts. Figures for May and June were also revised lower.
The Dow Jones Industrial Average dropped 1.2 percent, closing at 43,588.58. The S&P 500 fell 1.6 percent.
Investors responded to the report with caution, leading to a broad market sell-off. The labor data raised concerns about the pace of economic growth and added to existing uncertainties.
Sam Stovall, chief investment strategist at CFRA Research, said investors are concerned about signs of economic softening.
The weaker labor data has prompted discussions about its possible impact on future Federal Reserve policy decisions.
Analysts are monitoring additional economic indicators and evaluating potential adjustments to policy and investment strategies.
The July report has become a focal point in assessing the U.S. economic recovery and labor market conditions.