Unexpected Jobs Growth Impacts Investor Sentiment

Following a robust jobs report that showed U.S. nonfarm payrolls increasing by 256,000 in December, significantly above the 160,000 forecasted by analysts, U.S. stock markets opened lower on Friday. This unexpected surge has led to investor concerns that the Federal Reserve may delay further interest rate cuts, despite its recent decision in December.

Premarket Trading Sees Significant Drops

During premarket trading, the Dow Jones Industrial Average plummeted by 360 points, while the Nasdaq 100 and the S&P 500 both saw over a 1% decline. By 9:30 am ET, the Dow had decreased by 0.60%, the Nasdaq 100 lost 0.85%, and the S&P 500 went down by 0.75%. Notable stock movements included Nvidia Corporation falling by 2.25%, Applovin Corporation dropping 5.16%, and PG&E plunging 8.26%.

Currency Movements

In currency markets, the euro lost 0.43% against the dollar at 9:28 am ET, trading at $1.02583.