Stock market today: Worries about the economy hit Wall Street, and the Dow drops nearly 500 points

NEW YORK — U.S. stocks tumbled after weak data raised worries the Federal Reserve may have missed its window to cut interest rates before undercutting the economy’s growth. The S&P 500 sank 1.4% Thursday after a report showed U.S. manufacturing activity is still shrinking. The Dow Jones Industrial Average fell 1.2%, and the Nasdaq composite dropped 2.3%. The action was even stronger in the bond market, where the yield on the 10-year Treasury yield sank below 4% after data showed more U.S.

Together, the data likely remove upward pressure on inflation and give more leeway for the Federal Reserve to cut interest rates soon. A day earlier, yields sank after Fed Chair Jerome Powell gave the clearest indication yet that inflation may have slowed enough for an easing of rates to begin in September.

The weak economic numbers raise the stakes for an already highly anticipated report coming on Friday. Economists expect it to show a slight slowdown in U.S. hiring last month, and Wall Street's hope is for a Goldilocks type of reading that is neither so hot that it puts upward pressure on inflation nor so cold that it worsens worries about a possible recession.

The S&P 500 would have dropped even more Thursday if not for Meta Platforms. The company behind Facebook and Instagram climbed 4.1% after reporting profit and revenue for the latest quartre that topped analysts’ expectations.

الإمارات العربية المتحدة أحدث الأخبار, الإمارات العربية المتحدة عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Stock market today: Wall Street slips as S&P 500 heads for its worst week since AprilNEW YORK (AP) — U.S. stocks are slipping on Friday, as businesses around the world scramble to contain the effects of a disruptive technology outage . The S&P 500 was 0.
مصدر: SooToday - 🏆 8. / 85 اقرأ أكثر »

Stock market today: S&P 500 tops 5,600 as Wall Street's record-breaking rally keeps rollingNEW YORK (AP) — U.S. stocks rose again, continuing Wall Street’s record-setting run. The S&P 500 climbed 1% Wednesday, setting an all-time high for the 37th time this year and marking its first close above 5,600 points.
مصدر: SooToday - 🏆 8. / 85 اقرأ أكثر »

Stock market today: Wall Street ends mixed, nudging the S&P 500 and Nasdaq to more recordsStocks wavered to a mixed close on Wall Street, nudging the S&P 500 and the Nasdaq composite to more records. The S&P 500 inched up 0.1% Monday, and the Nasdaq rose 0.3%. The Dow Jones Industrial Average gave up an early gain and fell 0.1%.
مصدر: SooToday - 🏆 8. / 85 اقرأ أكثر »

Stock market today: Stock futures steady as S&P 500, Nasdaq try to build on recordsA consequential week that could provide key signals for the near-term path of interest rates.
مصدر: YahooFinanceCA - 🏆 47. / 63 اقرأ أكثر »

Stock market today: Trade worries hit technology stocks, pulling Wall Street lowerNEW YORK (AP) — Wall Street’s record-setting rally ran into a wall as worries about worsening trade tensions with China slammed some of the market’s biggest winners of the year. The S&P 500 was 0.
مصدر: SooToday - 🏆 8. / 85 اقرأ أكثر »

Stock market today: Trade worries hit technology stocks, pulling Wall Street lowerNEW YORK (AP) — Wall Street’s record-setting rally ran into a wall as worries about worsening trade tensions with China slammed some of the market’s biggest winners of the year. The S&P 500 was 0.
مصدر: SooToday - 🏆 8. / 85 اقرأ أكثر »