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Benzinga
Benzinga
Business
Henry Khederian

Robinhood Stock Falls As Dismal Jobs Report Sparks Financial Sector Sell-Off

HOOD Robinhood Robinhood Markets United States
Robinhood Robinhood,Mobile,Icon,App,On,A,Screen,Smartphone,Iphone.,Robinhood

Robinhood Markets Inc (NASDAQ:HOOD) shares are trading lower Friday afternoon amid a broad retreat among banking and financial services stocks. The sell-off was triggered by a surprisingly weak August jobs report, which has amplified investor concerns about a potential economic slowdown.

What To Know: The U.S. economy added a meager 22,000 nonfarm payrolls last month, falling dramatically short of expectations and marking the slowest pace of hiring since 2020. The report also included downward revisions for June and July, signaling a rapidly cooling labor market.

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