Recession fears returned, with the likelihood of a 50-basis-point Fed rate cut in September rising to 45%.
Last week's initial jobless claims fell to 227,000, the lowest since early July, while continuing claims dropped to a three-month low.
U.S. Challenger layoffs for August reached a 15-year high, while year-to-date hiring hit record lows. In August, layoffs reached 75,891, a 1% year-on-year increase, down from the p...