Dow Jones falls 400 pts, S&P 500 hits lowest since March 2023

US indices deepened their losses on Friday, with investors turning to Treasury bonds following renewed concerns about the world's largest economy, as data showed a slowdown in the labor market.

The Dow Jones Industrial Average dropped1%, or 410 points, to settle at 40,345 points,snapping a three weekly losing streak.

The S&P 500 index also fell 1.75%, or 94 points, to 5,408 points. The Nasdaq Composite Index plunged 2.55%, or 436 points, to 16,690 points.

As for European markets, the STOXX Europe 600 lostover 1% to 506.5 points.

The British FTSE index was also down0.75% to 8,181 points.The French CAC 40 index retreated more than 1% to 7,352 points.The German DAX index dropped 1.5% to 18,301 points.

The Nikkei index was down0.7%, or 265 points, to 36,391 points, and the broader Topix index dipped 0.9% to 2,597 points.

Brent crude futures for November delivery dropped by 2.25%,or $1.63, to $71.06 a barrel. Meanwhile, US WTI crude futures for October delivery fell by 2.15%, or $1.48, to $67.67 a barrel.Both contracts recorded losses of 7.65% and 8%, respectively.

Regarding gold, futures prices for December delivery were down 0.75%, or $18.5, to $2,524.60per ounce.

Data released by the US Department of Labor on Friday showed that the U.S. economy added 142,000 jobs in August, compared to 89,000 jobs added in July, after the figure was revised downward by 25,000.