"Market Turmoil: Dow Plummets Amid Uncertain Rate-Cut Outlook and Oil Surge"
TL;DR Summary
The Dow Jones Industrial Average fell over 500 points as Federal Reserve officials' cautious approach to interest rate cuts spooked investors, with all major S&P 500 sectors dropping. President Biden's call for a ceasefire in the Gaza war also impacted market sentiment. Oil prices rose amid geopolitical tensions. Investors await Friday's jobs report for further insight into the labor market and inflation, while money markets still anticipate a 60% chance of a rate cut in June.
- Dow drops 500 points after Fed officials spook investors with cloudy rate-cut outlook New York Post
- Stock market today: Stocks slide after Fedspeak as oil surges, March jobs report on deck Yahoo Finance
- Dow drops 500 points, continuing Wall Street’s rough streak ahead of jobs report CNN
- Dow’s worst day in a year follows talk of no rate cuts in 2024, oil-price spike MarketWatch
- Dow futures are little changed after index notches worst day in more than a year, jobs report looms: Live updates CNBC
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