US stock indices fell at the close of trading today, Tuesday, for the third consecutive session, as a result of the mounting concern in the markets regarding raising interest rates by the Federal Reserve.
Since Fed Chairman Jerome Powell’s speech last Friday, the S&P 500 index has lost more than 5% of its value due to concerns regarding monetary tightening and its potential repercussions on economic growth.
Today’s economic data revealed that the US consumer confidence index rose to the highest level in three months during this August, and the number of vacancies in the US labor market jumped during July to 11.24 million jobs.
Later this week, markets will be closely awaiting the release of the monthly jobs report for August next Friday.
At the close, the DowJones index fell 0.96% or 308.12 points to 31790.87 points, the S&P 500 fell 1.10% or 44.45 points to 3986.16 points, while the Nasdaq fell 1.12% or 134.53 points to 11,883.14 points.
