Market Snapshot: U.S. stocks fall, Nasdaq trades at 2022 low after struggling to shake off Fed rate-hike gloom

by | Oct 10, 2022 | Stock Market

U.S. stocks trimmed earlier losses but remained lower on Monday after failing to shake off worries about further Federal Reserve rate hikes, leaving the Dow Jones Industrial Average and the S&P 500 not far from their 2022 lows set at the end of last month. Investors were looking ahead to key inflation data due later this week, as well as minutes of the Fed’s September policy meeting and the start of earnings season.

How stocks are trading
The Dow
DJIA,
-0.27%
was down 8 points, or less than 0.1% near 29,288.

The S&P 500
SPX,
-0.73%
fell 15 points, or 0.4%, to 3,625.

The Nasdaq Composite
COMP,
-2.96%
gave up 70 points, or 0.6%, to trade at 10,583 after touching its lowest level since 2020 during the New York session.

On Friday, the Dow fell 630 points, or 2.1%, the S&P 500 declined 2.8%, and the Nasdaq Composite dropped 3.8%. The Nasdaq Composite was down 31.9% for the year to date through Friday.What’s driving markets Major indexes were on track for a fourth consecutive session of losses as concerns about additional rate hikes by the Fed continued to damp sentiment. Dow industrials, the S&P 500 and the Nasdaq all fell to session lows after a CNBC interview with Jamie Di …

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