Stock market decline today in Wall Street: Dip due to worries about a potential weakening of the labor market in the USA

In a mixed day for the US stock market, stocks slipped on Friday as employers across the United States hired fewer workers in August than Wall Street expectations. The Labor Department reported a slower expansion in the labour market, which sent market sentiment positive, with expectations for a possible interest rate cut amid weakened job growth and a slight rise in unemployment to 4.3%.

The Dow Jones Industrial Average, which opened the day with a 35.2 point increase, later fell 0.5% by 12:57 PM Eastern Time. The S&P 500 followed suit, dropping 0.5% at the same time. The Nasdaq Composite, however, showed a different trend, rising 152.7 points at the opening bell but later slipping 0.2% by the same time.

In the bond market, the yield on the 10-year Treasury fell to 4.08%, while the 2-year Treasury yield declined to 3.48%. These movements indicate investors' increased appetite for safe-haven assets amid market uncertainty.

Not all sectors experienced a downturn. The S&P 500 rose 27.0 points at the opening bell, but the gains were not sustained throughout the day. Some notable gainers included DocuSign, whose shares increased by 5.4%, and Tesla, whose shares surged 3.7%. Other notable gainers were Broadcom, whose stock jumped 10.3%, and Smith & Wesson Brands, whose stock increased by 10.5%.

In the commodities market, gold prices reached a record high on Friday. US gold futures for December delivery rose 1.3%, contributing to the overall upward trend in gold prices. Spot gold also advanced 1.4% as of 1402 GMT. However, Brent crude futures fell $1.33, and US West Texas Intermediate crude dropped $1.36, reflecting a broader market trend of risk aversion. Palladium remained unchanged at $1,126.45. Spot silver gained 1.5%.

In summary, while the US stock market slipped on Friday due to weakened job growth, gold prices reached a record high, indicating a shift in market sentiment towards safe-haven assets. The possibility of an interest rate cut also played a role in the market's reaction to the labour market data.