As trading continues on September 3, 2024, the U.S. stock market is experiencing notable declines across major indices.
– S&P 500: 5,576.01, down 72.39 points (-1.28%)
– Dow 30: 41,173.94, down 389.14 points (-0.94%)
– Nasdaq Composite: 17,323.03, down 390.59 points (-2.20%)
The market opened lower following the Labor Day holiday, with technology stocks leading the downturn. Concerns about economic growth and upcoming labor data have investors on edge. The ISM manufacturing index, set to be released shortly, is anticipated to provide insights into the economy’s health, while the key jobs report due later this week is expected to influence Federal Reserve policy decisions.
Investors are closely monitoring economic indicators, particularly in light of recent mixed data that has raised fears of a potential recession. The volatility in tech stocks, including significant players like Nvidia, is contributing to the overall market decline.
As the trading day progresses, all eyes will be on the economic data releases, which could shift market sentiment and impact future Federal Reserve actions.