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Markets

Wall Street in longest losing streak since 1980

Opening sequence

Opening sequence

Markets

Wall Street in longest losing streak since 1980

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COMING UP:Wall Street in longest losing streak since 1980

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Transcript

00:00:01
>> Wall Street ending the week with the longest losing streak in 36 years. I'm Conway Gittens in New York. The losses suffered during the nine day sell-off on Wall Street are minor. But, they do underscore the level of fear on trading desks around the world about the uncertainty of what could happen in next week's presidential election.
00:00:23
The losses on Friday kept to a minimum by an encouraging jobs report. 161,000 new jobs were created in October, slightly below forecast. But still good enough to suggest the economy is not back sliding. The unemployment rate dropped to 4.9%. But the bigger news, the wage gains. Average paychecks over the past 12 months, seeing the biggest raise in over 7 years.
00:00:48
Wall Street has been fixated on the labor market, looking for signs the Federal Reserve can make good on a promise to raise interest rates this year. But with the presidential election in it's final home stretch, the chance of a political upset causing a financial calamity is now Wall Street's top concern.