The tech companies Snap and Twitter had to accept price losses.
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(Photo: AP)
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Frankfurt, New York The prospect of further extensive rate hikes by the Fed is weighing on Wall Street. The leading indices Dow Jones, Nasdaq and S&P 500 fell by up to 1.1 percent in early trading on Friday.
US companies created 528,000 nonfarm payroll jobs in July, according to the Labor Department. On average, analysts had only expected 250,000 new jobs. In addition, the increase in average hourly wages was above forecast.
Unemployment fell back to pre-coronavirus levels in July. The unemployment rate fell from 3.6 to 3.5 percent. According to the ministry, about 5.7 million people were unemployed. Both values correspond to the pre-corona level in February 2020.
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