Major United States indexes saw substantial losses on Friday after the Bureau of Labor Statistics released an especially weak jobs report. Meanwhile, a few economists speculated that the unemployment surge could be partly attributed to July's Hurricane Beryl.

July Jobs Report:Nonfarm payrolls clocked in at 114,000 in July, substantially under the 175,000 consensus.

Meanwhile, the U.S. unemployment rate rose to 4.3%, a low number compared to historical rates of unemployment, but much higher than last July's 3.5% mark.

The rise in unemployment triggered the Sahm rule, a recessionary indicator, setting up potential rate cuts from the Federal Reserve in September.