Robinhood Stock Falls As Dismal Jobs Report Sparks Financial Sector Sell-Off

Group 1 - Robinhood Markets Inc shares are experiencing a decline due to a broader sell-off in banking and financial services stocks, triggered by a weak August jobs report [1][3] - The U.S. economy added only 22,000 nonfarm payrolls in August, significantly below expectations and marking the slowest hiring pace since 2020, with downward revisions for June and July indicating a cooling labor market [2][3] - The poor jobs data has led to increased expectations for Federal Reserve interest rate cuts, but concerns about a slowing economy potentially reducing trading activity are negatively impacting sentiment for brokerage platforms like Robinhood [3] Group 2 - Despite the decline in share price, Robinhood has a high momentum score of 98.61 according to Benzinga Edge rankings [4] - As of Friday afternoon, Robinhood shares are trading down 2.07% to $100.78, with a 52-week high of $117.70 and a low of $18.71 [4]