Shares of Plug Power Inc (NASDAQ:PLUG) are plunging Friday afternoon, caught in a market-wide rout driven by a dual shock of dire economic data and escalating geopolitical conflict. The clean energy manufacturing company, known for its stock volatility, was hit particularly hard late Friday as investors shed risk assets.
What To Know: The market turmoil was ignited by a shaky July jobs report. The U.S. economy added only 73,000 jobs, far below the 110,000 expected, while the unemployment rate unexpectedly spiked to 3.9%. Making matters worse, job numbers for May and June were revised down by a combined 258,000, signaling that the labor market is cracking.
