Photo by TIMOTHY A. CLARY/AFP via Getty Images)
- US stocks were mixed on Wednesday as traders digested weak jobs data.
- The Nasdaq Composite fell 1% as traders retreated on recession fears.
- Gold traded near record highs at $2,049 per ounce.
US stocks were mixed on Wednesday on fresh recession fears following new data that suggest the labor market is finally weakening after a year of monetary policy tightening by the Federal Reserve.
The Nasdaq Composite shed over 1%, while the Dow Jones Industrial average closed in the red as well. Out of the three major gauges, the S&P 500 notched small gains.