Dax closes almost 200 points lower after US job market report

Dusseldorf The German stock market posted losses on the US jobs report. The leading index Dax closed on Friday 1.6 percent down at 12,273 points. The Frankfurt stock exchange barometer ended Thursday 0.4 percent weaker at 12,471 points.

In the US, 263,000 net new jobs were created in September. While that’s down from August’s 315,000 jobs, the consensus estimate of economists was even lower at 250,000. The unemployment rate was 3.5 percent. A value of 3.7 percent had been expected.

“The dynamics on the labor market are slowing down. The 263,000 new jobs created are the fewest in a month this year. However, there can be no question of a dip or even a crisis on the job market at the moment,” comments Thomas Altmann, portfolio manager at QC Partners, on the development.

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