US stocks closed lower, “Nasdaq” and “S&P 500” recorded ‎worst weekly performance since March

US stock indices fell at the close of trading on Friday, affected by the issuance of the disappointing monthly jobs report, in addition to the continued damage to the markets by the sudden decision of Fitch Agency this week.

Nasdaq and S&P 500 each recorded losses for the fourth session in a row, and the two indices recorded their largest weekly losses since March.

US Department of Labor announced today that the economy added 187,000 jobs in July, compared to expectations of adding 200,000 jobs.

According to the monthly report, the unemployment rate in the US labor market fell to 3.5% last month from 3.6% in June.

It should be noted that Fitch Agency shocked the markets this week with the decision to downgrade the credit rating of US sovereign debt to the level of “AA+” from “AAA”, with a stable outlook.

At the end of the session, the Dow Jones fell by 0.43%, or the equivalent of 150 points, to 35,065 points, and the Nasdaq fell by 0.36%, or 50 points, to 13,909 points, while the S&P declined. 500 by 0.53%, or 24 points to 4478 points

On a weekly basis, the Nasdaq recorded losses of 2.9%, and the S&P 500 incurred a weekly loss of 2.3%, while the Dow Jones declined this week by 1.1%.