Under the Fast Food Recovery Act, a council would be authorized to set the minimum wage and regulate working conditions for fast-food workers.on the last day of July. That’s nearly two jobs for every unemployed person, on average. That number was up from 11 million in June, and June’s figure was also revised sharply higher.
Wall Street is worried that the Fed could hit the brakes too hard on an already slowing economy and veer it into a recession. Higher interest rates also hurt investment prices, especially for pricier stocks. The selling was widespread Tuesday, with all the sectors in the S&P 500 ending in the red. All told, the S&P 500 fell 44.45 points to 3,986.16. The Dow dropped 308.12 points to 31,790.87, and the Nasdaq fell 134.53 points to 11,883.14. The Russell 2000 gave up 27.35 points to close at 1,855.59.
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Asian stocks mixed after Wall Street pullback on hawkish FedMarkets worldwide continue to digest Federal Reserve Chairman Jerome Powell's hawkish words on inflation and interest rates last week.
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Stocks headed for more pain as 3,900 becomes new line in the sand for the S&P 500, chart watchers sayA group of popular Wall Street technicians all see more pain ahead for stocks.
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