Summary
SHOCK news that US firms cut back employment in August for the first time in four years heightened fears that the world's biggest economy is facing a recession.
Dealers scratched their heads in disbelief as the latest employment report showed the US lost 4,000 jobs in August, compared with the expected 110,000 increase forecast by highlypaid economists.See the full content of this document
Extract
Ftse Falls Amid Us Jobs Gloom ; Market Report
It went down like a lead balloon on Wall Street and the dicky Dow showed its immediate disgust with an opening fall of 157 points.
Already in the doldrums on growing worries about UK banks' exposure to the ...See the full content of this document
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