How did Amazon's performance impact the market?

Shares of Amazon.com tumbled after the company reported quarterly results that failed to meet expectations for its Amazon Web Services cloud computing unit, adding to the overall selling pressure in the market.

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U.S. Stocks Plunge Amid New Tariffs and Disappointing Jobs Report

Q: What caused the U.S. stock market to plummet?

The U.S. stock market plummeted due to new tariffs imposed by President Trump on imports from several trading partners, including Canada, Brazil, India, and Taiwan, as well as a surprisingly weak July jobs report that raised concerns about the economic outlook.

Q: What does the weak July jobs report indicate about the U.S. labor market?

The July jobs report showed that U.S. employment growth slowed more than expected, while the prior month's data was also revised sharply lower, suggesting the labor market may be starting to show signs of weakness.

1 Aug

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Summary

U.S. stocks suffer biggest daily drop in over 3 months
New tariffs imposed on trading partners like Canada, Brazil, India
Surprisingly weak July jobs report indicates labor market struggles

U.S. Stocks Plunge Amid New Tariffs and Disappointing Jobs Report

On August 1, 2025, U.S. stocks experienced a significant sell-off, with the S&P 500 index on track for its largest single-day percentage decline in more than three months. The market turmoil was triggered by a combination of factors, including new tariffs imposed by the U.S. government and a surprisingly weak jobs report.

Just hours before the tariff deadline on Friday, President Donald Trump signed an executive order imposing duties on imports from several trading partners, including Canada, Brazil, India, and Taiwan. This latest round of levies added to the ongoing trade tensions and uncertainty, weighing heavily on investor sentiment.

Further denting confidence in the economic picture, the July jobs report showed that U.S. employment growth slowed more than expected, while the prior month's data was also revised sharply lower. This indicated that the labor market may be starting to show signs of weakness, raising concerns about the broader economic outlook.

Compounding the market's woes, shares of e-commerce giant Amazon.com tumbled after the company reported quarterly results that failed to meet lofty expectations for its Amazon Web Services cloud computing unit. The disappointing performance from one of the market's key drivers added to the overall selling pressure.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.