A woman walks by a “Now Hiring” sign outside a store in Arlington, Virginia in August. (AFP Photo)NEW YORK: US stocks and bonds dropped early Friday as traders assessed surprisingly weak jobs data at a time when the Federal Reserve considers a reduction in economic stimulus. Hiring downshifted abruptly in August with the smallest gain in seven months. Nonfarm payrolls increased by just 235,000 after an upwardly revised gain of 1.05 million in July, the Department of Labor reported. “I don’t think [the new jobs data] is going to change much for the Fed taper timeline,” said Zhiwei Ren, portfolio manager at Penn Mutual Asset Management.

Source: Bangkok Post September 03, 2021 14:15 UTC