The Nasdaq drops 1 per cent as data shows US firms are hiring fewer workers than expected. The ASX is expected to fall at the open. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
here to take you through all the market action on this Thursday, or as I'll now be referring to it — fake Friday.Most stock markets, including the ASX, will be shut for Good Friday, and a bunch in South America and Asia are already closed on Thursday., while the Dow managed a gain due to a rise in healthcare stocks.
The pullback in growth stocks, which saw the Nasdaq down 1.1 per cent at the close, came amid worries a US recession is on the horizon., while another survey revealed, with prices paid by services business dropping to the lowest level in nearly three years. In recent months, softer economic data has been welcomed by markets that are hoping for a reprieve from rising interest rates, but"We may have transitioned from the notion that 'bad news is good news' to 'bad new is bad news'…Fear about a recession is the dominant theme.", and given the recent focus on the well, financial stability, of global banks, it should be fairly interesting reading so stay tuned.
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