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Closing Bell

Closing Bell Overtime: Stocks Sink To Start August 8/1/25

Closing Bell

CNBC

Business, News

4.8 • 118 Ratings

🗓️ 1 August 2025

⏱️ 43 minutes

🧾️ Download transcript

Summary

Markets react to a full slate of headlines—from the weak July jobs report to Trump’s threats against the BLS. Stocks post their worst day in months. Bob Elliott of Unlimited and Michael Farr of Farr, Miller & Washington break down the broader setup while Goldman’s Eric Sheridan looks at the tech carnage.

Transcript

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0:00.0

Red. Down day for the major averages. It was a down week. Worst week for the S&P on the NASDAQ since May for the Dow since April.

0:07.2

Tech earnings, tariffs, job numbers, political firing, all conspiring to send stocks lower on this Friday. The NASDAQ with the worst day in three months.

0:16.3

The S&P 500 with its first 1% move in either direction in more than a month today, lower.

0:21.8

Bond yields falling sharply, though, on the weaker than expected jobs report and Amazon,

0:27.0

down big following its results. Apple also lower on the day.

0:31.2

That is the scorecard on Wall Street, but winter stay late.

0:33.7

Welcome to closing about overtime. I'm John Ford, alongside Morgan Brennan.

0:37.0

And let's get straight to the numbers. A lot of focus was on tech results this week,

0:41.6

but Christina Parts Nevelas is looking at the other sectors that were hit hard.

0:45.1

Christina? Yeah, so much for that chill summer Friday vibe, John. Markets just delivered their

0:49.5

worst selling day in over a month. You mentioned that with all major averages closing lower this week after two solid weeks of gains. Small caps taking the biggest hit with the Russell 2000 down more than

0:58.7

4% on the week. Escalating tariff costs, pressure these domestically focused companies that

1:04.9

struggle more with rising input costs. So that's why you're seeing that lower. Materials

1:08.8

led the weekly decline, closing over 5% lower.

1:11.8

Eastman Chemical actually plummeted. That's the big name this week, plummeting over 20% today

1:16.5

after missing earnings and slashing guidance, citing that difficult macro environment that we hear so much about.

1:22.7

Consumer discretionary wasn't too far behind, over 4% lower, followed by financials. Bank stocks really came under pressure as we talked about softening labor data, just really

1:31.3

awaken fresh concerns about economic strength.

1:34.3

Even crypto, though, couldn't escape today.

1:36.3

Bitcoin dropping more than 3%, the lowest level in just three weeks,

1:41.3

under, you can see trading at $113,000, dragging down Coinbase,

1:46.3

the usual, riot platform, micro strategy. Coinbase, though, posted its worst day since March after

...

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