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U.S. slowdown fear causes market plunge, FT

考研英语  时间: 2019-04-08 14:15:51  作者: 匿名 

    LONDON, Sept. 8 (Xinhua) -- Global stock markets tumbled on Friday, reportedly for the fears of a U.S. economy slowdown, according to Financial Times Weekend Saturday.

    The U.S. economy is witnessing the first monthly fall in employment in four years, which is said to make an interest rate cut this month all but certain.

    The evidence of weakness in the jobs market shocked investors and raised expectations that the U.S. Federal Reserve would be forced to cut interest rates by as much as half a percentage point this month to stave off recession.

    The fear about a U.S. economy plunge was exacerbated after the close of trading when Countrywide, the leading U.S. home lender, announced plans to cut up to 12,000 jobs and predicted further weakness in the mortgage market, the report said.

    Stocks in the U.S. and Europe had suffered heavy losses on the back of the U.S. job figures and the dollar fell sharply as investors sought the safety of government bonds.

    In New York, the Dow Jones Industrial Average fell 1.9 percent to 13,113.4, while the S&P 500 lost 1.7 percent to 1,453.55. In London, the FTSE 100 fell 1.9 percent to 6,191.2, below its starting level for the year, and in Europe the FTSE Euro first 300 shed 2.2 percent to 1,494.88. Shares in banks and financials bore the brunt of the sell-off.

    The jobs data showed employers cut 4,000 workers, compared with Wall Street forecasts that about 110,000 jobs would be created.

    The government also said 81,000 fewer jobs were created in June and July than previously thought.

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