Dow Crashes as Wage Growth Fears Spook Investors: Is This the Worst Month Since 2022?
The stock market fell on Tuesday as data on wage growth raised concerns about inflation. The Dow Jones Industrial Average had its worst month since September 2022.
- The Nasdaq Composite dropped 2% on Tuesday.
- The S&P 500 fell 1.6%.
- The Dow Jones Industrial Average slid 1.5%.
Treasury yields increased after data showed employment costs rose more than expected.
Shares of Eli Lilly rose after strong sales of its diabetes treatment and weight-loss drug.
Dow component Coca-Cola beat earnings estimates, while McDonald’s missed. Amazon is expected to report strong earnings after the market closes.
The Federal Open Market Committee began its two-day policy meeting on Tuesday. Investors expect the Fed to keep interest rates unchanged. All eyes will be on Chair Jerome Powell’s comments after the rate decision is announced tomorrow.
Stocks rose yesterday after Tesla surged following CEO Elon Musk’s visit to China.
