News Highlights: Top Global Markets News of the Day - Friday at 7 PM ET

Stocks Extend Ugly Week of Losses Amid Economic Uncertainty

Tech-heavy Nasdaq drops 5.8%, its worst week in nearly three years; Nvidia shares decrease 14%.

Hiring Softened This Summer, Teeing Up Fed Rate Cuts

U.S. job growth rebounded slightly in August after a midsummer scare, but a mixed reading provided little clarity as to how aggressively the Federal Reserve will begin cutting interest rates.

Fed's Williams says it is now appropriate to cut interest rates

Inflation is coming down in a sustainable way towards the Federal Reserve's 2% target and it is now time to cut interest rates, New York Fed President John Williams said, on Friday.

U.S. Dockworkers Are Bracing for a Strike at Major American Ports

Dockworkers from Maine to Texas are finalizing strike plans with less than a month remaining on their labor contract and no negotiations scheduled with port employers, raising the prospects of an Oct. 1 walkout that would hit the U.S. economy in the weeks before the presidential election.

Canada Unemployment Rate Rises to 6.6% in August

Hiring in Canada recovered in August, but not by enough to keep the jobless rate from pushing even higher.

Fed's Waller backs starting 'careful' rate cuts in September, says open to more 'forceful' moves down the road

The time has come to start cutting interest rates, but carefully, Federal Reserve Governor Christopher Waller said Friday. The time for forceful cuts may come, but only if the data demand such moves, he added.

Week Ahead for FX, Bonds: U.S. Inflation, ECB Decision, China Data in Focus

A data-heavy week for China starts off with inflation figures on Monday. U.S. consumer-price data are in the spotlight Wednesday, followed by a European Central Bank decision on Thursday.

Eurozone Economy Weaker Than Previously Estimated as ECB Prepares to Meet

The eurozone economy grew less rapidly in the three months through June than previously estimated, making it more difficult for the European Central Bank to secure a soft landing as it seeks to tame inflation.

German Recession Fears Mount as Industry Slump Endures

The long slide in German factory output continued in July, increasing the risk that the eurozone's largest economy is sliding into a second straight quarter of contraction.

What Lies Behind the Markets' Jitters

Stocks and bonds are far more sensitive to economic indicators than they have been in the past-because investors are aware of just how much rests on a soft landing.