U.S. stocks close lower after weak jobs data

China

U.S. stocks close lower after weak jobs data

2025-09-06 11:58 Last Updated At：23:37

U.S. stocks finished lower on Friday after a disappointing U.S. jobs report heightened concerns about slowing economic momentum.

The Dow Jones Industrial Average fell 220.43 points, or 0.48 percent, to 45,400.86. The Standard and Poor's 500 declined 20.58 points, or 0.32 percent, to 6,481.5. The Nasdaq Composite Index edged down 7.31 points, or 0.03 percent, to 21,700.39.

All three major indexes had touched record intraday highs earlier in the session, with the Standard and Poor's 500, Nasdaq and Dow advancing as much as 0.5 percent, 0.8 percent and 0.3 percent, respectively, before turning lower.

Six of the 11 primary Standard and Poor's 500 sectors ended in negative territory, led by energy and financials, which fell 2.06 percent and 1.84 percent. Real estate and communication services outperformed, rising 0.98 percent and 0.55 percent, respectively.

The U.S. Bureau of Labor Statistics reported that the economy added only 22,000 jobs in August, well below the 75,000 projected by economists surveyed by Dow Jones. The unemployment rate rose to 4.3 percent, in line with expectations.

The weak labor market data bolstered expectations for the Federal Reserve to deliver at least a quarter-point interest rate cut at its meeting later this month, while traders also priced in the possibility of a half-point reduction, according to the FedWatch tool. In response to the report, U.S. President Donald Trump renewed his criticism of Fed Chair Jerome Powell on social media.

On the corporate front, Broadcom shares surged 9.41 percent after the chipmaker delivered stronger-than-expected quarterly earnings, fueled by robust demand for its artificial intelligence products. The company also revealed a new multi-billion U.S. dollar customer, widely reported to be OpenAI.

Tesla gained 3.64 percent after unveiling a new pay package for CEO Elon Musk, setting ambitious performance targets that could lift his total compensation to as much as 1 trillion dollars over the next decade. Other mega-cap technology names were mixed. Nvidia and Microsoft each lost more than 2.5 percent, while Amazon slipped 1.42 percent, and Apple finished slightly lower. Alphabet and Meta Platforms, meanwhile, closed in positive territory.

"Soft landing" of China-EU EV case to significantly boost market confidence: MOC spokeswoman

The "soft landing" of the China-EU electric vehicle case will greatly boost market confidence and inject new momentum into China-EU cooperation in automobile trade and investment, a spokeswoman of the Ministry of Commerce (MOC) said at a press briefing in Beijing on Thursday.

He Yongqian, the spokeswoman, made the remarks after China and the European Union (EU) agreed on the necessity of providing general guidance on price undertakings for Chinese companies exporting battery electric vehicle (BEV) passenger cars to the EU.

"China and the EU simultaneously announced on Monday that they had achieved positive outcomes following multiple rounds of consultations on the EV case, a development that has drawn wide attention at home and abroad. Industry players from both sides have 'highly welcomed and fully endorsed' the outcome, saying the 'soft landing' of the case is expected to greatly boost market confidence and inject new momentum into China-EU cooperation in automobile trade and investment. Some EU politicians have described it as a positive step toward building a sustainable China-EU trade relationship, and said it demonstrated that resolving trade differences through partnership remains feasible," she said.

"Against the current international backdrop, China and the EU, acting in a spirit of mutual respect and within the framework of WTO rules, have properly addressed the EV case, which is of significant positive importance. The outcome will not only contribute to the sound development of China-EU economic and trade ties and help safeguard the stability of the global automotive industrial and supply chains, but will also send a clear and strong signal that both sides are willing to uphold a rules-based international trading order, setting a good example for countries to resolve differences through dialogue and consultation and injecting greater certainty and positive energy into global economic growth," she said.

"China appreciates the spirit of dialogue showed by the EU side and stands ready to work with the EU, building on the current positive outcomes, to further implement the consensus reached by the leaders of the two sides, maintain dialogue and communication, and support stable industrial and supply chains on both sides, continue to deepen cooperation on the basis of market principles, and make active contributions to the global green transition," she added.