Dow Tumbles 1,100 Points; US Economy Adds 228,000 Jobs In March

U.S. stocks traded lower this morning, with the Dow Jones index dipping more than 1,100 points on Friday. China unveiled a retaliatory 34% tariff on U.S. goods?mirroring the rate announced by President Donald Trump on Wednesday?deepening fears of a full-blown trade war.

The Dow traded down 2.82% to 39,401.43 while the NASDAQ fell 3.59% to 15,955.66. The S&P 500 also fell, dropping, 3.20% to 5,223.96.

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Leading and Lagging Sectors

Consumer staples shares fell by just 0.5% on Friday.

In trading on Friday, energy shares tumbled by 5.2%.

Top Headline

In March, nonfarm payrolls surged by 228,000, the Bureau of Labor Statistics reported Friday. The outcome is well above the three-month average of 195,000 and topped economists’ forecasts of 135,000. February's employment growth was downwardly revised to 117,000.

Equities Trading UP
                       

• Impact BioMedical Inc. (IBO) shares shot up 84% to $0.8522.
• Shares of iCoreConnect Inc. (ICNP) got a boost, surging 79% to $7.59.
• USA Rare Earth, Inc. (USAR) shares were also up, gaining 51% to $9.77.

Equities Trading DOWN

• NeuroOne Medical Technologies Corporation (NMTC) shares dropped 44% to $0.4781 lower following its $8 million stock offering.
• Shares of Protagenic Therapeutics, Inc. (PTIX) were down 28% to $0.3027.
• AIM ImmunoTech Inc. (AIM) was down, falling 39% to $0.0723.

Commodities

In commodity news, oil traded down 7.8% to $61.72 while gold traded down 1% at $3,090.30.

Silver traded down 4.1% to $30.665 on Friday, while copper fell 6.9% to $4.4950.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 4.2%, Germany's DAX 40 dipped 4.2% and France's CAC 40 fell 3.8%. Spain's IBEX 35 Index fell 5.1%, while London's FTSE 100 dipped 3.8%.

Asia Pacific Markets

Asian markets closed lower on Friday, with Japan's Nikkei 225 dipping 2.75% and India's BSE Sensex falling 1.22%.

Economics

• In March, nonfarm payrolls surged by 228,000, the Bureau of Labor Statistics reported Friday. The outcome is well above the three-month average of 195,000 and topped economists’ forecasts of 135,000. February's employment growth was downwardly revised to 117,000.
• The unemployment rate unexpectedly inched higher from 4.1% to 4.2%, defying expectations for no change.
• Average hourly earnings increased 0.3% from February’s pace, as predicted, and rose 3.8% year-over-year, marginally lower than the 3.9% predicted.

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