GFAI - Why Are Stocks Down Today?
2023-10-17 11:17:27 ET
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Stocks are down today, and investors wondering why are in the right place as we have all the details they need to know about on Tuesday!
The big reason that stocks are down today has to do with the latest retail sales report . This came in hotter than expected, which shows that consumers aren’t slowing down on purchases despite ongoing inflation.
This has stocks down today as investors are worried that the Federal Reserve will take extra steps to curb ongoing inflation. That means there could be more interest rate increases on the way, which wouldn’t be what traders want to see.
Oxford Economics lead U.S. economist Michael Pearce said the following in a note obtained by Yahoo Finance :
“While mounting headwinds to consumer incomes mean we expect spending growth to slow in the months ahead, the risks that spending contracts outright are fading.”
With all of these worries, it makes sense that stocks are down today. Let’s check out just how bad things are with a look at the major indices below!
Stocks Down Today: Major Indices Falling
- Starting us off is the S&P 500 , which is sliding 0.22% lower as of Tuesday morning.
- Next is the Dow Jones Industrial Average and its 0.1% drop as of this writing.
- Finally, the NASDAQ Composite is getting hit the worst with a 0.49% decrease this morning.
Investors can check out more of the most recent stock market news down below!
We’re offering insight into all of the hottest stock market stories traders need to know about on Tuesday! A few examples include what’s happening with shares of Lucid (NASDAQ: LCID ) stock, Assembly Biosciences (NASDAQ: ASMB ) stock and Guardforce AI (NASDAQ: GFAI ) stock today. You can catch up on all of this news by checking out the following links!
More Stock Market News for Tuesday
- LCID Stock: Lucid Motors Drops 3% on Q3 Delivery Update
- Why Is Assembly Biosciences (ASMB) Stock Up 92% Today?
- GFAI Stock Alert: Guardforce AI Announces New 3-Year Contract
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines .
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