U.S. stocks finished mostly lower on Thursday, with the technology-heavy Nasdaq Composite booking its fifth straight session of losses and the S&P 500 logged its fourth consecutive day of declines, after a fresh batch of labor-market data sparked renewed concerns about the Federal Reserve’s monetary-tightening path in 2024. How stocks traded
The S&P 500
SPX
fell 16.13 points, or 0.3%, to finish at 4,688.68. The large-cap benchmark index tumbled for a fourth straight session, the longest losing streak in over two months, according to Dow Jones Market Data.
The Dow Jones Industrial Average
DJIA
edged up 10.15 points, leaving it nearly flat, at 37,440.34.
The Nasdaq Composite
COMP
was off 81.91 points, or 0.6%, to end at 14,510.30. The technology-heavy index was down for the fifth consecutive day, its longest losing streak since October 12, 2022.
The S&P 500 fell for a third consecutive session on Wednesday as U.S. stocks continued to struggle at the start of 2024. The large-cap benchmark index fell nearly 1% during the ‘Santa Claus rally’ period spanning late December and early January, its worst-such showing since early 2016.
What drove markets After finishing off 2023 with a nine-week winning streak, U.S. stocks have been off to a rocky start in the new year. Dow industrials eked out a modest gain on Thursday, stemming losses from earlier this week. But the Nasdaq Composite still ended in the red, logging its longest losing streak in over a year after briefly turning positive in the morning session, according to Dow Jones Market Data. Heightened Middle East tensions, concerns that stocks and bonds have become overbought, and worries that the Federal Reserve may not reduce borrowing costs as quickly as hoped have all been blamed for driving the selloff. Indeed, minutes from the Fed’s December meeting released Wednesday showed officials welcomed waning inflation but expressed some uncertainty about the path …
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The S&P 500
SPX
fell 16.13 points, or 0.3%, to finish at 4,688.68. The large-cap benchmark index tumbled for a fourth straight session, the longest losing streak in over two months, according to Dow Jones Market Data.
The Dow Jones Industrial Average
DJIA
edged up 10.15 points, leaving it nearly flat, at 37,440.34.
The Nasdaq Composite
COMP
was off 81.91 points, or 0.6%, to end at 14,510.30. The technology-heavy index was down for the fifth consecutive day, its longest losing streak since October 12, 2022.
The S&P 500 fell for a third consecutive session on Wednesday as U.S. stocks continued to struggle at the start of 2024. The large-cap benchmark index fell nearly 1% during the ‘Santa Claus rally’ period spanning late December and early January, its worst-such showing since early 2016.
What drove markets After finishing off 2023 with a nine-week winning streak, U.S. stocks have been off to a rocky start in the new year. Dow industrials eked out a modest gain on Thursday, stemming losses from earlier this week. But the Nasdaq Composite still ended in the red, logging its longest losing streak in over a year after briefly turning positive in the morning session, according to Dow Jones Market Data. Heightened Middle East tensions, concerns that stocks and bonds have become overbought, and worries that the Federal Reserve may not reduce borrowing costs as quickly as hoped have all been blamed for driving the selloff. Indeed, minutes from the Fed’s December meeting released Wednesday showed officials welcomed waning inflation but expressed some uncertainty about the path …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]