The Dow Jones has tumbled in early trading, down 0.65% on the back of data showing US companies cut more jobs last month than economists estimated.
A report by Payroll processor ADP Data revealing there were 371,000 redundancies in the private sector in July, worse than the predicted 350,000 cuts, pushed the index down 60.76 points to 9259.43. Consumer goods company Procter & Gamble is seeing the largest losses, down 3.26% at $53.65 after reporting weaker-than-expected sales for its latest quarter. Banking stocks are propping up the index, with Bank of America and JP Morgan Chase up 3.77% at $16.23 and 2.18% at $41.09 respectively. On home shores, the FTSE 100 has consolidated this morning’s losses, down 33.87 points (0.73%) a...
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