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Global News Impacting Chinese Tech

Wall St slides 1% as labor data stokes rate hike concerns

News Snapshot:

Summary Companies Meta takes aim at Twitter with Threads app, millions join Exxon signals sharp drop in profit US private payrolls beat expectations in June – ADP US weekly jobless claims rise moderately Indexes down: Nasdaq 1.25%, S&P 1.03%, Dow 1.00% July 6 (Reuters) – Wall Street tumbled on Thursday as data signaling a resilient labor market and hawkish minutes of the Federal Reserve's June meeting fanned fears the central bank could keep interest rates higher for longer. Private payrolls increased more than expected in June, the ADP National Employment report showed, indicating the labor market remained strong despite growing…

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