U.S. stocks were moving lower on Tuesday afternoon as technology shares came under pressure, dragged down by Apple’s continued slump, while investors remained cautious ahead of closely watched remarks by Federal Reserve Chair Jerome Powell and labor-market data, which should offer more clues on the central bank’s interest-rate path and the health of the economy. How stocks are trading
The S&P 500
SPX
was down 52 points, or 1%, to 5,078.
The Dow Jones Industrial Average
DJIA
was falling 360 points, or 0.9%, to 38,630.
The Nasdaq Composite was sliding 294 points, or 1.8%, to 15,912.
The three major indexes were on track for back-to-back losses, after the S&P 500 and Nasdaq pulled back Monday from record finishes scored at the end of last week.
What’s driving markets Tuesday’s trading session saw investors taking a cautious tone. So far, the year has been good for markets as investors have navigated moderating inflation, consistent economic growth and the Federal Reserve’s uncertain next move on interest rates. However, until investors see a fresh round of data and speeches on these topics later this week, it’s still a risk-off mood in the financial market — at least for equities. Bitcoin
BTCUSD,
-8.26%
notched a new record high on Tuesday morning, briefly moving past $69,000. Kim Forrest, founder and chief investment officer at Bokeh Capital Partners, said this week’s start is reminiscent of last week’s. At that time, the big worry was that the Fed-preferred PCE inflation gauge due out at the end of last week would be hotter than expected. However, the February inflation numbers came in line with expectations, propelling the S&P …
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The S&P 500
SPX
was down 52 points, or 1%, to 5,078.
The Dow Jones Industrial Average
DJIA
was falling 360 points, or 0.9%, to 38,630.
The Nasdaq Composite was sliding 294 points, or 1.8%, to 15,912.
The three major indexes were on track for back-to-back losses, after the S&P 500 and Nasdaq pulled back Monday from record finishes scored at the end of last week.
What’s driving markets Tuesday’s trading session saw investors taking a cautious tone. So far, the year has been good for markets as investors have navigated moderating inflation, consistent economic growth and the Federal Reserve’s uncertain next move on interest rates. However, until investors see a fresh round of data and speeches on these topics later this week, it’s still a risk-off mood in the financial market — at least for equities. Bitcoin
BTCUSD,
-8.26%
notched a new record high on Tuesday morning, briefly moving past $69,000. Kim Forrest, founder and chief investment officer at Bokeh Capital Partners, said this week’s start is reminiscent of last week’s. At that time, the big worry was that the Fed-preferred PCE inflation gauge due out at the end of last week would be hotter than expected. However, the February inflation numbers came in line with expectations, propelling the S&P …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]