Sharp decline in the US stock market: employment data affected investors

The US stock markets suffered significant losses on Thursday as a result of a sudden collapse in the middle of the trading session, following the September employment report, which showed an increase in employment by 119 thousand jobs. In particular, the Nasdaq Composite index lost more than 2.1%, while the S&P 500 fell by 1.5%. Accordingly, the shares of technology companies such as Nvidia also experienced significant fluctuations, closing with a drop of 3.1%.

Source Yahoo Finance

Nvidia's financial report initially boosted investor sentiment by reporting higher-than-expected profits, but the overall negative market, including a decline in cryptocurrencies, added pressure to high-tech stocks. The results of Walmart's report, which showed an increase in profits, helped to stabilize the market somewhat, as retailers assess consumer demand ahead of the holiday season.

The President of the US Reserve Bank said that the market expects interest rates to be cut at the next meeting, although opinions are divided among politicians. The September report was the first important signal about the state of the US economy after a long shutdown, although experts are cautious about the impact on the consumer segment.