Investors balanced a strong U.S. jobs report against worries the Federal Reserve may cause a recession in its drive to halt inflation.
The latest pullback came as investors balanced a strong U.S. jobs report against worries the Federal Reserve may cause a recession in its drive to halt inflation.
The S&P 500 fell 23.53 points to 4,123.34. The Dow dropped 98.60 points to 32,899.37. The Nasdaq fell 173.03 points to 12,144.66. Not only do higher interest rates tap the brakes on the economy by making it more expensive to borrow, they also put downward pressure on prices of all kinds of investments. Beyond interest rates and inflation, the war in Ukraine and the continuing COVID-19 pandemic are also weighing on markets.
“These data do not change the outlook for Fed policy; the rates trajectory remains upward in the near term,” Rubeela Farooqi, chief U.S. economist at High Frequency Economics, wrote in a note.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks are falling, here's what a former Wall Street trader is doingStocks are dropping and you may have the sudden urge to sell you positions. Before taking any such action, consider these tips.
Read more »
Stocks slump on Wall Street as markets assess looming fallout from Fed's fight against inflationThe Dow dropped 1,079 points or 3.2%, the S&P 500 fell 3.6% and the Nasdaq Composite tumbled 4.9% in midday trading.
Read more »
Asia-Pacific stocks set for lower start following Wall Street tumbleShares on Wall Street declined sharply overnight, with the Dow Jones Industrial Average seeing its worst day since 2020.
Read more »
Stocks end rocky week with their 5th straight weekly declineThe stock market ended an unusually turbulent week with its fifth straight weekly decline
Read more »
Global stocks, Wall St futures skid on fears over rate hikeGlobal stocks and Wall Street futures are lower as fears spread that U.S. interest rate hikes to fight inflation might stall economic growth.
Read more »
Stocks soar to biggest gain in 2 years after Fed downplays higher rate increaseThe Dow Jones Industrial Average jumped 932 points, or 2.8%, to close at 34,061. The S&P 500 gained almost 3%, while the tech-heavy Nasdaq jumped 3.2%. The S&P saw its best daily performance since May 2020, according to FactSet.
Read more »