U.S. stocks close lower, with Nasdaq and S&P 500 booking sharp losses

U.S. stocks closed lower Thursday as investors weighed economic data on retail sales, unemployment claims and manufacturing amid worries that the Federal Reserve risks triggering a recession by continuing its aggressive pace of rate hikes. The Dow Jones Industrial Average DJIA, -0.56% fell 0.6%, while the S&P 500 SPX, -1.13% fell 1.1% and the Nasdaq Composite COMP, -1.43% dropped 1.

4%, according to preliminary FactSet data. Most of the S&P 500's 11 sectors finished lower, with financial and healthcare being the only areas to see gains. The yield on the 10-year Treasury note rose 4.7 basis points Thursday to 3.458%, while the 2-year Treasury yield jumped 8.9 basis points to 3.871% - the highest since October 31, 2007 based on 3 p.m. Eastern time levels, according to Dow Jones Market Data.

Oh it's okay just change the definition of recession and it's all good, right?

We will be headed lower

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Stock market news today: Dow and S&P 500 updatesUS stocks plummeted in their worst day since June 11, 2020, after key August inflation data ticked upward, surprising investors. So the Inflation Bill that won’t lower Inflation is being celebrated today and Ppl with a 401K just lost a bundle today but Dems are going to win in November? I think not. Inflation was up last Month with CPI up again today. Not Flat. So you guessed wrong again Pres.Biden. I am sure they will find a way to push blame to Trump...He does deserve some, but this is LARGELY on Biden and Nancy.
Source: CNN - 🏆 4. / 95 Read more »