Politic > Market
Wall Street rally hits wall of hot jobs, cold earnings data
1 month ago | By Boston Herald
By STAN CHOE
NEW YORK - Wall Street's big rally to start the year wilted on Friday after a surprisingly strong jobs report fueled worries about inflation and higher interest rates.
The S&P 500 fell 1% for its first drop in four days, though it took an up-and-down route to get there. The bond market was more decisive in thinking the strong jobs data could push the Federal Reserve to stay firmer than expected on high interest rates, which hurt the economy and markets.
The Dow Jones Industrial Average dropped 127 points, or 0.4%, while the Nasdaq composite sank 1.6%.
The market already looked...
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Wall Street takes a hit on hot jobs data, cold tech profits
1 month ago | By Boston Herald
By STAN CHOE
NEW YORK - Wall Street's rally is hitting a wall Friday after a surprisingly strong jobs report fueled worries about inflation and higher interest rates.
The S&P 500 is 1.1% lower and on track for its first drop in four days, though it took an up-and-down route to get there. The bond market was more decisive in thinking the strong jobs data may push the Federal Reserve to get firmer on high interest rates, which hurt the economy and markets.
The Dow Jones Industrial Average was down 155 points, or 0.5%, at 33,898, as of 3:14 p.m. Eastern time, while the Nasdaq composite was...
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