Reported 1 day ago
U.S. stocks faced a downturn as traders reassessed interest rate cut expectations following new economic data. The S&P 500 fell approximately 0.4%, while the Nasdaq dropped around 1.1%. Despite initial gains from Nvidia's AI advancements, concerns about inflation and job market dynamics persisted, with JOLTS job openings exceeding forecasts. The Fed's approach toward rate cuts appears to be gradually shifting due to strong employment figures and rising prices, impacting market sentiment.
Source: YAHOO