Test english 2024-08-04 15:30

Wall Street’s busiest week of the summer sent stocks tumbling as a weak July jobs report surfaced concerns over the health of the US economy and Big Tech earnings failed to ease investor fears.

For the week, the S&P 500 (^GSPC) fell more than 2.5%, while the Nasdaq Composite (^IXIC) fell over 3.7%. This drawdown in the Nasdaq sent the index into a correction after closing more than 10% from its latest high reached on July 10. Meanwhile, the Dow Jones Industrial Average (DJI) also slid about 2.5%.

The week ahead won’t provide much new macroeconomic fodder for investors, with updates on activity in the services sector and weekly jobless claims expected to be the main releases in focus.