Selling pressure intensifies in US stocks, Dow Jones drops 800 points

Selling pressure intensified in the early trading session of the US stock market on Friday, with the Dow Jones Industrial Average falling by 800 points and the Nasdaq dropping by 540 points. The US non-farm payroll data for July fell far short of expectations, with the unemployment rate rising to 4.3%, reaching a near three-year high, sparking concerns about an economic recession. Traders are weighing the latest corporate earnings reports from companies such as Amazon and Intel. At the time of writing, the Dow Jones fell by 799.51 points, a decrease of 1.98%, to 39548.46 points; the Nasdaq dropped by 540.92 points, a decrease of 3.15%, to 16653.22 points; and the S&P 500 Index declined by 134.67 points, a decrease of 2.47%, to 5312.01 points