U.S. stocks fell on Wednesday as Wall Street failed to hold on to the sharp gains from the last two sessions.
The Dow Jones Industrial Average lost 42.45 points, or 0.14%, to 30,273.87. Earlier in the day, it was down 429.88 points. The S&P 500 lost 0.20% to close at 3,783.28, and the Nasdaq Composite slid 0.25% to 11,148.64.
“It’s a moment of pause for the market to reflect on how durable the rally the past two days actually could turn out to be,” said Yung-Yu Ma, chief investment strategist for BMO Wealth Management. “The market’s making the assessment that it’s really going to take a lot for the Fed to make a dovish pivot. Yes, the JOLTS number was extremely welcome, no question about that. But that is really the tip of the iceberg in terms of what the Fed needs to actually take a softer tone.”
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Article URL : https://www.cnbc.com/2022/10/04/stock-market-futures-open-to-close-news.html