Overall, what we need to understand is that markets have rallied significantly from the recent lows of 22,000 to currently trade around 24,300 plus. So, clearly, that has been a 10% more or less rally and in a very short span of time. So, somewhere or the other stocks are definitely witnessing some profit booking as well.
US Stock Market | Unexpected job losses, rise in unemployment rate fan US labor market doubts
America’s job market saw an unexpected decline in February. Nonfarm payrolls dropped, and the unemployment rate climbed to 4.4 percent. This development presents a challenge