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Dow slides on hot jobs data, hawkish Fed comments

January 6, 2023
Source: nypost.com nypost.com
News Snapshot:
Wall Street’s main indexes fell sharply on Thursday as fresh evidence of a tight labor market and hawkish comments from policymakers deepened fears of elevated interest rates for longer than expected. In midday trading, the Dow Jones Industrial Average slipped 364 points, or 1.1%, to 32,905, the S&P 500 dropped 1.1%, and the Nasdaq was down 1.3%. Most big technology and other growth stocks like Alphabet and Microsoft fell between 1% and 2.3% as US Treasury yields surged on prolonged rate-hike expectations. Tesla dropped over 5% after the December sales of its China-made electric vehicles fell to a five-month low,...
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