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The Guardian - US
The Guardian - US
Business
Phillip Inman

US markets tumble amid Wall Street concern over job losses and AI

United States Chris Beauchamp Donald Trump Government Shutdown Challenger Gray Christmas US Federal Reserve
Traders on the floor of the Wall Street stock exchange
Wall Street has been rattled by a review of Donald Trump’s tariffs by the supreme court. Photograph: Seth Wenig/AP

Fears that the US economy is slowing, with firms shedding jobs and imposing hiring freezes, sent Wall Street tumbling on Thursday.

The S&P 500 index of leading firms was down 1.1% as investors also highlighted concerns about the potential for a slump in the value of businesses that have benefited from huge investments in artificial intelligence. The tech-heavy Nasdaq Composite fell 1.9%.

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