US Economic Data and Oil Prices Drive Wall Street Downward
TL;DR
Wall Street declined following weaker US economic data, with flatlining services activity and rising input costs raising concerns about economic growth and the impact of tariffs. Oil prices fell for the fourth consecutive session amid worries of oversupply and weaker demand, while the dollar steadied and market expectations for a Fed rate cut increased to 94%. European markets gained ground, supported by positive earnings and reduced uncertainty, despite ongoing trade tensions and geopolitical concerns.
Topics:businessfinance#federal-reserve#finance#market-reaction#oil-prices#us-economic-data#wall-street
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- Stocks Pressured by Disappointing US Service Sector News Yahoo Finance
- Wall Street pares gains after fresh economic data; earnings in spotlight Reuters
- Stock Market Today: Dow, S&P and Nasdaq give up early gains as ISM services survey comes in weaker than expected; Palantir shares hit record after earnings. MarketWatch
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