US stocks fell sharply on Friday, taking the course in its worst week since 2022 after escalating concerns that Donald Trump’s tariffs are placing importance on the world’s biggest economy.
According to the Bureau of Labor Statistics, the US created 151,000 jobs in February, not reaching 160,000 forecasts by economists voted by Reuters. Reading in January was also revised from 18,000 to 125,000.
The unemployment rate was 4.1% last month, but is stable at 4% compared to expectations.
The Wall Street S&P 500 fell 1.1% on Friday. According to FactSet data, it was the worst performance since September 2022, down 4.6% for the week. High-tech Nasdaq composites fell by 1.5%.
The employment report will curb the turbulent week in which Trump shakes the market by imposing a 25% tariff on Canada and Mexico before a partial reprieve. Recent data suggests that Trump’s uncertainty about tariffs has knocked on manufacturing and consumer spending, both supporting US growth.
Federal employment could potentially reflect the early impact of Trump’s efforts to cut 10,000 jobs in February and cut federal workers through Elon Musk’s so-called government efficiency agency. This figure shows the biggest decline in federal employment since June 2022.
