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Stocks Slide With Anxiety Running High Before Jobs: Markets Wrap

  • Kashkari says Fed ‘quite a ways away’ from pausing rate hikes
  • Evans says Fed headed for 4.5%-4.75% rates by early 2023
Bloomberg business news
Not Time to Swing for Fences in Stocks: Hancock's Roland
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The stock market found little encouragement to sustain any rebound attempt on the eve of the all-important US jobs report, with major benchmarks finishing solidly lower on Thursday.

Aside from the anxiety that usually precedes those numbers, traders had to digest remarks from a raft of Federal Reserve speakers who sounded unequivocally committed to crushing inflation with rate hikes. The hawkish rhetoric helped push the S&P 500 to its second straight day of losses while lifting the dollar and Treasury yields. Oil topped $88 a barrel.