US banks down after muted jobs data
Updates
** Shares of U.S. banks fall as latest jobs data did little to clear the uncertainty around the magnitude of the Federal Reserve's interest rate cut expected this month
** JPMorgan & Chase JPM.N Goldman Sachs Group GS.N, Morgan Stanley MS.N, Bank of America BAC.N, Citigroup C.N and Wells Fargo WFC.N down between ~1.1% and ~3.9%
** US Bancorp USB.N, Fifth Third Bancorp FITB.O, M&T Bank MTB.N, Keycorp KEY.N, Western Alliance WAL.N drop between ~1.7% and ~2.1%
** A Labor Department report showed U.S. employment increased less than expected in August, but a drop in the jobless rate to 4.2% suggested an orderly labor market slowdown continued
** S&P 500 Banks Index .SPXBK down 2.2%
Reporting by Jaiveer Singh Shekhawat in Bengaluru
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