Tag Archives: Wall Street

Wall Street Battered by Brutal Reports

Today, the Dow Jones dropped 340 points as the US government released its poor report on the employment status of Americans, revealing a further weakening economy. The Department of Labor’s report showed a reversal of continued decline in unemployment, with an increase of 15,000 applications for unemployment during August.

Also reported were further slumps in retail markets, that pointed to necessity spending by consumers and an abandonment of demand for luxury items.