Dow finishes down over 300 points as investors await December jobs report

0
13

U.S. stocks finished lower on Thursday, with the Dow dropping more than 300 points, as strong jobs data and hawkish Fed commentary signaled more aggressive Federal Reserve interest-rate hikes to come. The S&P 500 SPX, -1.16% shed 44.87 points, or 1.2%, to finish at 3,808.10. The Nasdaq Composite COMP, -1.47% dropped 153.52 points, or 1.5%, to 10,305.24. The Dow Jones Industrial Average DJIA, -1.02% retreated 339.69, or 1%, to 32,930.08. Private payrolls data from ADP showed jobs growth last month was far more robust than economists had expected, stoking concerns that Friday’s monthly payrolls report might also surprise to the upside. One stock-market analyst told MarketWatch earlier that “good news” about the labor market is “bad news” for stocks and bonds, as it means the Fed has failed to undercut the labor market, a key step toward suppressing inflation.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleMcCarthy falls short again in ninth speaker vote, setting up 10th ballot
Next articleThe Wall Street Journal: Trump sued by estate of Capitol Police officer who died after Jan. 6 siege

LEAVE A REPLY

Please enter your comment!
Please enter your name here