US stock market values tumble amid reports of high layoffs and hiring freezes

Fears that the US economy is slowing, with firms shedding jobs and imposing hiring freezes, sent Wall Street tumbling on Thursday.The S&P 500 index of leading firms was down 1% as investors also highlighted concerns about the potential for a slump in the value of businesses that have benefited from huge investments in artificial intelligence. The tech-heavy Nasdaq Composite fell 1.5%.A report showed that last month was the worst October for US layoffs since 2003, which grabbed the attention of investors in ...