US stocks drop as strong economic data raises inflation fears, with tech stocks hit hardest.

US stocks fell on Tuesday, with the S&P 500 dropping 1.1%, the Dow Jones down 0.4%, and the Nasdaq down 1.9%, due to strong economic data raising concerns about inflation and reducing expectations for Federal Reserve interest rate cuts. The Labor Department reported more job openings and higher service sector activity, pushing 10-year Treasury yields to their highest since April. Tech stocks were hit hardest.

2 months ago
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