U.S. stocks suffered a fierce sell-off on "Non-farm Night".
After the release of the U.S. non-farm payrolls report for August, U.S. stocks suddenly plunged. As of the close, the Nasdaq plummeted 2.55%, the S&P 500 index plummeted 1.73%, and the Dow Jones Industrial Average plummeted 1.01%. Among them, the "seven giants" of U.S. technology stocks all plunged, U.S. chip stocks plummeted, and the Philadelphia Semiconductor Index plummeted 4.52%.
Analysts believe that based on the latest non-farm payrolls report, the Federal Reserve will not cut interest rates sharply in September to confirm recession concerns, so September A 25 basis point rate cut in February is more reliable. In the end, the market gradually reached a consensus that the probability of a 50 basis point rate cut was halved to 27%, and the probability of a 25 basis point rate cut rose to 73%. At the same time, Fed Governor Waller said in his latest speech that the US job market continued to soften, but it did not deteriorate. The US economy is neither in recession nor expected to go into recession.