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U.S. Stocks Turn Lower as Investors Worry Over Interest Rates

Published 08/30/2022, 09:37 AM
Updated 08/30/2022, 09:43 AM
© Reuters.

© Reuters.

By Liz Moyer

Investing.com -- U.S. stocks turned lower on Tuesday, extending the decline to a third day on worries about the Federal Reserve’s interest-rate outlook.

At 10:16 ET (14:16 GMT), the Dow Jones Industrial Average was down 158 points, or 0.5% while the S&P 500 was down 0.6% and the NASDAQ Composite was down 0.6%.

The S&P Core Logic Case Shiller home price index showed an 18% year-over-year gain in June but the pace of the increase is slowing from previous months. The JOLTs job openings report for July showed 11.239 million openings, higher than the expectation for 10.475 million. CB consumer confidence was a stronger than expected 103.2. The expectation had been for a reading of 97.9.

Investors have spent the last few days worrying about how aggressive the Fed will be in its quest to tame inflation. Before Friday’s speech by Chair Jerome Powell, investors had seen a chance the Fed would slow its pace of interest rate increases. But after Powell said the central bank would do whatever it takes when it comes to inflation, the expectation is it will continue with a 0.75-percentage point increase.

The next meeting for the Fed is in September.

Bed Bath & Beyond Inc (NASDAQ:BBBY) shares were up 7% in early trading as investors look forward to a meeting on Wednesday when management will explain its strategy.

Twitter Inc (NYSE:TWTR) was down 1% after Elon Musk filed another letter explaining his reasons for canceling his $44 billion takeover offer.

Oil fell. Crude Oil WTI Futures was down 4.6%, to $92.52 a barrel, while Brent Oil Futures was down 4.1% to $98.71 a barrel. Gold Futures fell 0.7% to $1737.

Latest comments

Title correction: "U.S. Stocks Turn Lower as Investors Worry Over Demented Potato In White House"
Title correction: "U.S. Stocks Turn Lower as MSM Tries to Avoid Talking about Brandon"
stop forgiving student loans so that rich universities can charge more.
Biden is disastrous for markets !
Inflation is booming. Stocks will fall until summer of 2025. Sell all stocks or go broke!
Is this a bot? Sounds like it. July MoM inflation was zero, yes I said zero! One month doesn't make a trend, but oil continued to drop substantially in Aug, so it's likely Aug will confirm zero MoM inflation yet again. Sep data will indeed be interesting, and may just convince the Fed to limit rate increase to 0.5%, and shorten the tightening cycle altogether. We will see. But no, inflation is not booming until 2025 smh
 fundamentals cant beat the machines these days....
Fed fund rate will go to the moon as Greenspan did to control super high inflation !! 6% Fed fund rate in this year end!!!
These headlines crack me up. I wish investors could influence the market. At least they take into account fundamentals. Not these knee-jerked overreactions based on headlines, like the algos do.
Biden father saudi arab is coming on 5 sep
Fact check: The markets and economy are not doing poorly because the Fed is raising interest rates, they are doing poorly because we have a demented potato in the White House pushing unsustainable leftist economy policy. There is a reason that socialism ends in breadlines and gulags. Brandon has put the economy into a situation of hyper-inflation and declining GDP, and the Fed can only print so much money to try and bail out bad economic policy.
Fed fund rate will go to the moon as Greenspan did to control super high inflation !! 6% Fed fund rate in this year end!!!
Manipulated market is manipulated. Fundamentalist traders are gone.
Looks like consumers are ready to resume their reckless spending, taking out HELOC's, maxing out credit cards and buying everything in sight.  More air in the greatest bubble in history.
resume? the entire country runs on credit always and the market is dictated by algorithms...your posts are laughable, everyday.
Fed fund rate will go to the moon as Greenspan did to control super high inflation !! 6% Fed fund rate in this year end!!!
Giving low fraudulent forcast
to much panic sell
Too much corruption.
it's all good. I'll add more.
Fed fund rate will go to the moon as Greenspan did to control super high inflation !! 6% Fed fund rate in this year end!!!
Frauds incharge of market !!First they printed and now they looting
This market is bunk. What a crock of bull.
Manipulated, corrupt market, being controlled by algorithmic trading. Good, solid companies getting crushed because of Powell nonsense. Such BS! Eliminate computerized automated trading that takes nothing into account other than an orchestrated narrative. Bring the human aspect back into the market.
This market is totally junk
Bed Bath and Beyond up!!...who f'n cares... we have inflation, a recession, power shut offs, ongoing conflicts. Honestly...now is the time to start reporting on macro events and systemic risk
U.S. Stocks Open lower because gamblers dont give a *******about jobs they need loan money from FED
Another 10AM breaker fires, flagrantly as ever, to stop the plunge.  Remarkable how "rallies" aren't stopped in their tracks at 10.  What's next, the 11AM "rally" where savvy "investors" buy just enough to bring the "market" even? Truly, the laughingstock of the investing world.
Bed bath and beyond - management strategy, pump and dump and leave the retail investor holding the bag of rubbish!!!
This *****is a mess horrible investors
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