Market Wobble: Economic Data Damps Rate Cut Hopes
Wall Street's major indexes opened lower as economic data and a Federal Reserve official's comments dampened speculation about future rate cuts. The Dow Jones, S&P 500, and Nasdaq Composite all saw declines at the opening, reflecting investor caution towards the potential for further monetary easing.
In a turbulent start to the trading day, Wall Street's key indexes saw a downturn as economic reports and statements from a Federal Reserve official clouded hopes for additional rate reductions.
The Dow Jones Industrial Average began the session down by 23.8 points, or 0.05%, hitting 46,097.43.
Likewise, the S&P 500 dropped 29.8 points, or 0.45%, reaching 6,608.19, and the Nasdaq Composite slipped by 179.1 points, or 0.80%, to 22,318.766. The declines reflect growing investor caution amid mixed signals on the economic front.
(With inputs from agencies.)
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