Investors wondering why stocks are down today are in the right place as we have all of the details behind what’s weighing on the market on Tuesday!
The big reason why stocks are down today has to do with data from the latest jobs report. The April report shows that job openings have fallen to their lowest since February 2021 at 8.06 million jobs. This comes after a hiring spree that took place after the pandemic.
Oxford Economics lead U.S. economist Nancy Vanden Houten said the following about this to Yahoo Finance:
“The decline in openings points to a slower pace of hiring in the months ahead. However, layoffs remain low, so net job growth should continue to be positive. The labor market remains healthy enough to allow Fed policy decisions to be primarily guided by readings on inflation.”
Investors are also anxious about upcoming decisions from the Federal Reserve. The economy may be slowing, but the Fed is using inflation as its deciding factor for interest rate cuts. Until inflation has dropped enough, traders are unlikely to see those rates fall.
Let’s check out what all of this means for the major stock indices below!
Stocks Down Today: Major Indices Fall
- The S&P 500 starts us off with a 0.23% drop as of Tuesday afternoon.
- Next is the Dow Jones Industrial Average with a 0.03% decrease as of this writing.
- Closing us out is the Nasdaq Composite, with a 0.19% fall on Tuesday.
Below are more stock market stories ready to go!
We have all of the hottest news traders need to know about on Tuesday! That includes what’s happening with shares of WiMi Hologram Cloud (NASDAQ:WIMI), SOBR Safe (NASDAQ:SOBR) and Microsoft (NASDAQ:MSFT) stock today. All of that info is available at the following links!
More Tuesday Stock Market News
- Why Is WiMi Hologram Cloud (WIMI) Stock Up 23% Today?
- Why Is SOBR Safe (SOBR) Stock Up 83% Today?
- Microsoft Layoffs 2024: What to Know About the Latest Cloud Job Cuts
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
