US stocks look set to open sharply lower in Friday's trading session following worse-than-expected employment data released earlier in the morning.
Dow Jones Industrial Average futures were down 1.2%, S&P 500 futures were falling 1.5%, and Nasdaq futures were tumbling 2.2% lower.
The unemployment rate for July rose to a higher-than-expected 4.3%, compared with 4.1% in June and the 4.1% expected by analysts, according to Bloomberg.
Nonfarm payroll numbers, which were expected to decline to 176,000 in July from 206,000 the previous month, fell further than expected to 114,000.
And average hourly earnings, which measures the change in the amount businesses pay for labor excluding the agricultural sector, came in at a lower-than-expected 0.2%, compared with 0.3% in June.
Oil prices were dropping sharply, with front-month global benchmarks North Sea Brent crude down nearly 2% at $77.96 a barrel and US West Texas Intermediate crude falling 2.3% to $74.53 per barrel.
In other world markets, Japan's Nikkei plummeted 5.8%, Hong Kong's Hang Seng tumbled 2.1%, and China's Shanghai Composite was down 0.9%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 was off 0.7%, while Germany's DAX 30 fell 1.8% and France's CAC 40 fell 0.9%.
In equities, shares of VSee Health (VSEE) soared 170% in recent Friday premarket activity after it said Thursday it signed a deal with Ava Robotics to develop telepresence solutions for the inpatient intensive care market. MKDWELL Tech's (MKDW) shares jumped 83%, adding to a more than 5% gain the previous session. The company said late Wednesday that it has completed its business combination with Cetus Capital Acquisition. Telesis Bio (TBIO) shares surged 33%, adding to 7.6% gain the previous session. Shares of Akanda (AKAN) advanced 24%, following a 3% loss on Thursday. And shares of Heidrick & Struggles International (HSII) climbed 28% after a 2.6% loss the prior session.
On the losing side, shares of Fresh Vine Wine (VINE) plunged 33% after it said late Thursday that it has agreed to terminate its merger agreement with Notes Live. TELUS International's (TIXT) shares tumbled 27%, adding to a 4% loss the previous session. Shares of Procore Technologies (PCOR) shed 21% after it reported late Thursday Q2 revenue and Q3 revenue guidance that missed analyst forecasts. Intel's (INTC) shares fell 25% after the company reported late Thursday lower Q2 earnings and sales and suspended its dividends beginning in Q4 while enacting a cost-cutting program. And shares of Smith Micro Software (SMSI) dropped 31% after it reported a higher-than-expected loss and lower-than-expected revenue for Q2.
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