Weak US jobs data cemented expectations of an interest rate cut later this month on Friday but stocks slid on worries about the economic outlook and profit-taking.

Wall Street’s three main indices opened in positive territory after official data showed the US economy added 22,000 jobs last month, down from July’s 79,000 figure. But then they quickly turned lower.

Analysts had expected the figures to confirm a cooled labour market as companies pull back on hiring amid ongoing uncertainty over President Donald Trump’s tariffs.

Ahead of the figures, the market had already largely priced in an interest rate cut of a quarter percentage point, or 25 basis points, when the US Federal Reserve holds its monetary policy meeting later this month.

But the numbers were well below the 77,000 jobs an

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