⚠️BREAKING: *U.S. STOCKS TUMBLE AS FRESH SIGNS OF HOT JOBS MARKET BOLSTERS FED RATE HIKE BETS - $DIA $SPY $QQQ
fell to the lowest level since Sept. 24, with economists warning that claims were likely to trend higher despite the recent headlines of layoffs at major companies.
Federal Reserve Bank of St. Louis President James Bullard cut a less hawkish figure following data, saying that while inflation is too high, the rates are getting closer to a “sufficiently restrictive zone.” Microsoft was the biggest drag on tech for the second-straight day after UBS raised concerns a day earlier about slowing growth in the tech giant’s cloud and office businesses.
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