Vietnam Insight

US stocks closed sharply lower on Friday, with the S&P 500 down 1.8%, the Nasdaq sinking 2.4%, and the Dow Jones plunging nearly 610 points due to a weaker-than-expected jobs report that raised concerns about a slowing economy. Nonfarm payrolls increased by just 114,000, well below the forecast of 175,000, while the unemployment rate unexpectedly rose to 4.3%, the highest since October 2021.

The VNINDEX closed at 1,188 points, down 48.53 points (-3.92%) with increased trading volume. The market saw 448 declining stocks and 24 advancing stocks. Stocks contributing to the market's increase included HNA, SVC, and EIB, while VCB, BID, and GVR contributed to the decline. All sectors were down. Foreign investors were net sellers of about 730 billion VND.

• World stocks: Widespread market panic
• Vietnamese stocks: A strong bearish market sentiment
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