S&P 500 Is Set for Worst Jobs Day in Two Years

What You Need To Know

• A plunge in key technology companies sent the Nasdaq 100 down 10% from its peak, matching the definition of a correction.
• Wall Street banks are ramping up expectations for an aggressive Fed easing cycle based on the latest evidence that the labor market is cooling.
• In the history of the start to Fed easing since 1970, cuts in response to a downturn have proved negative for stocks and positive for bonds.