US equity markets tumbled for a second straight session after a weak jobs report further stocked fears of a recession – Dow fell -611-points or -1.51%. Intel Corp tumbled -26.06% after the chipmaker announced a wider-than-expected quarterly loss after the close of last Thursday’s (1 August) session and said it would lay off 15% of its staff as part of a massive cost-cutting effort. Amazon.com Inc -8.78% after the e-commerce giant reported weaker-than-anticipated quarterly revenue and issued soft guidance for the current quarter after the close of the previous session.


The broader S&P500 dropped -1.84% to 5,346.56, with 74% of index components settling in the red. The index settled 5.66% below its 16 July closing high (5,667.20). It marks the 29th correction of great than >5% off of a high since the March 2009 low.