S&P 500, Nasdaq fall as yields rally on hot labor market data

A trader works on the floor of the New York Stock Exchange in New York City, U.S., February 17, 2023. REUTERS/Brendan McDermidWeekly jobless claims fall more than expectedMarch 2 - The benchmark S&P 500 and the tech-heavy Nasdaq fell on Thursday as the 10-year Treasury yield surged above 4% following hotter-than-expected labor market data, while Tesla sank after it gave few details on its affordable electric vehicle.

The number of Americans filing new unemployment claims fell again last week, according to a Labor Department

Anything that's good for the average guy - rising wages, low unemployment, is bad for the market. Got it.

Err.. Wanna check again? 🤡

Until the plunge protection pump we just witnessed over the past hour.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

S&P 500, Nasdaq open lower as higher bond yields weigh on stocksU.S. stocks opened mostly lower on Thursday, with only the Dow lingering in positive territory, as inflation fears helped push the yield on the 10-year...
Source: MarketWatch - 🏆 3. / 97 Read more »

U.S. stocks finish mostly lower, S&P 500 books back-to-back losses amid rising Treasury yieldsU.S. stocks closed mostly lower Wednesday as Wall Street began March on a downbeat note. The Dow Jones Industrial Average edged up less than 0.1% to close about flat:
Source: MarketWatch - 🏆 3. / 97 Read more »