Markets attempted to stage a recovery at the beginning of last week but escalating geopolitical tensions and another strong US jobs report sent them back into reverse. The blue-chip S&P 500 and technology focussed Nasdaq indices fell 1.8% and 2.5% respectively, hitting new lows for 2022.
In a much less chaotic week than we have been accustomed to of late, the relative calm was disrupted by the release of the monthly US nonfarm payrolls report on Friday afternoon. It revealed the world’s largest economy added 263,000 jobs last month, slightly ahead of expectations, and the unemployment rate fell to 3.5%, the lowest level since the 1960s.
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