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Stock Market Today: Stocks Dragged Down by Strong Data


//stocks-investing.news-articles.net/content/202 .. et-today-stocks-dragged-down-by-strong-data.html
Published in Stocks and Investing on by Kiplinger   Print publication without navigation

Thirty-day fed funds futures prices reflect a 95.2% chance the central bank will hold this month and could even maintain the current target range for the federal funds rate of 4.25% to 4.50% through the summer.


The article from Kiplinger discusses the stock market's reaction to recent economic data. On this particular day, the stock market experienced a downturn, primarily due to stronger-than-expected economic reports which suggested that the Federal Reserve might maintain higher interest rates for a longer period. Key points include a significant drop in the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite. The robust economic data, including a strong jobs report and rising consumer confidence, led investors to recalibrate their expectations for monetary policy, fearing that the Fed would not pivot to rate cuts as soon as previously hoped. This shift in expectations caused a sell-off in equities, particularly affecting sectors sensitive to interest rate changes like technology and real estate. Additionally, the article mentions specific company news, such as Tesla's stock decline after announcing price cuts in China, and broader market sentiment influenced by geopolitical tensions and upcoming economic indicators.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/investing/stocks/stock-market-today-stocks-dragged-down-by-strong-data ]

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