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US Markets Face Downward Pressure Amid Economic Concerns
US markets faced losses as rising unemployment triggered recession concerns, with a notable drop in AI stocks and Bitcoin.
The S&P 500 continued its downward trend for a third consecutive day after the release of the November jobs report, which showed an uptick in unemployment, sparking fears of a potential recession. Both the Dow and Nasdaq also fell, with a significant selloff in AI stocks. Broadcom's stock took a hit, while gold prices saw a slight rally. Bitcoin, however, dropped 3.1%, falling to $85,806, as market sentiment turned cautious post jobs data.