Published on 10 Jan 2025 on Benzinga
Wall Street Tumbles On Blowout Payrolls, Oil Rallies To $76, US Dollar Hits...
Wall Street faced heavy selling pressure in its first trading session after former President Jimmy Carter's funeral, as a series of economic developments rattled interest rate and energy markets, sparking heightened risk aversion among investors.
The U.S. economy added 256,000 jobs in December, far exceeding expectations of a slowdown to 160,000. The unemployment rate dipped to 4.1%, defying forecasts that had anticipated it to remain at 4.2%.