US stock slide in tech-driven sell-off as Trump's positive COVID-19 test spurs volatile trading
, according to the Bureau of Labor Statistics. The reading fell below the 859,000 additions expected by economists surveyed by Bloomberg. The unemployment rate fell to 7.9% through the month, beating the consensus estimate of 8.2%.
Though the government's monthly report marked a fifth straight month of job additions, it also revealed a slowing pace of recovery for the beleaguered labor market. The millions of Americans still unemployed also find themselves without key assistance from the government. House Democrats late Thursday, aiming to revive a $600 per week expansion to unemployment benefits and send another round of direct payments.House Speaker Nancy Pelosi indicated she and Treasury Secretary Steven Mnuchin made some progress in reaching a compromise on Friday. Yet Senate Majority Leader Mitch McConnell has indicated that Senate Republicans won't back the bill.Spot gold hovered above its key support level of $1,900 per ounce, trading at $1,900.86.
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