Market concerns about the economic outlook put pressure on U.S. stocks in the early session
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After the U.S. Bureau of Labor Statistics released employment data, the three major U.S. stock indices opened lower. The technology sector generally declined, with Google experiencing the largest drop. Market expectations for adjustments in the Federal Reserve's monetary policy have changed, with the federal funds futures market indicating an increased probability of interest rate cuts. The U.S. dollar index fell briefly. The U.S. Treasury Secretary expects GDP growth to be 3.5% in 2025
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