The major indexing trio all showed a decrease in stock prices: The Dow Jones industrial average and Standard & Poor’s 500 stock index both dropped by 1.1%. Nasdaq’s composite index fell by 1.7%.
Stock declines in light of otherwise favorable employment news, might be attributed to the recent meeting minutes released by the Federal Reserve.
Sal Arnuk, co-head of trading at Themis Trading, said the Fed’s claims of “robust” markets casted doubts on the recent streak of economic recovery.
— Paul Dang