The market experienced a downturn mainly due to the publication of the US Employment Situation Summary on June 7. This report disclosed that 272,000 people found work in the US during May, surpassing predictions. Nonetheless, the unemployment rate also inched up from 3.9% to 4.0%, creating ambiguity regarding the state of the economy. Despite the positive growth in employment pointing towards a robust labor market, the uptick in unemployment sparked worries. Stay updated with the newest technology news by visiting NEWSLINKER.
