“Stock Market Volatility: Traders React to Iran Headlines, Jobs and Manufacturing Data” – Yahoo Finance

In a rollercoaster day on Wall Street, stocks dropped as traders grappled with a whirlwind of headlines coming out of Iran, new jobs data, and manufacturing reports. The Dow Jones Industrial Average fell over 200 points, while the S&P 500 and Nasdaq also saw losses.

The tensions in the Middle East escalated after Iran announced that it had seized a foreign oil tanker in the Strait of Hormuz, a crucial waterway for global oil shipments. This news sent shockwaves through the markets, as investors feared a potential disruption in oil supply and heightened geopolitical tensions.

On the domestic front, the latest jobs report showed that the U.S. economy added 164,000 jobs in July, slightly below expectations. While the unemployment rate remained at 3.7%, wage growth also slowed, raising concerns about the strength of the labor market.

Additionally, new manufacturing data revealed that factory activity contracted for the second consecutive month, as the ongoing trade war with China continued to weigh on the sector. This further fueled fears of a global economic slowdown and added to the market’s unease.

Overall, traders struggled to digest the flurry of news and data coming their way, leading to a volatile day on Wall Street. As uncertainty looms over the markets, investors will be closely watching for any further developments in the Iran situation and upcoming economic reports for clues on the direction of the stock market.