As the global market continues to slow down, attributed to prevalent market factors like recession and troublesome attrition rates, the sudden decline in the US stocks came as another indication in that line of events. The business world stays anxious about economic growth, which is reflected in a bearish approach in the New York Share market. The headline is that the Wall Street stocks opened flat on Tuesday as Trump’s political drama and a holiday-rich short trading week add no good to the situation at hand.
The analytics by the significant experts jump into the matter to assign numerical figures to the widespread economic crisis. The Labor Department came up with its monthly Job Openings and Labor Turnover Survey on Tuesday to disclose that the number of job openings in the US has fallen below 10 million, which is the minimum in the past two years. The chief economist at LPL Financial, Jeffrey Roach, explained, “The labor market is starting to loosen as the number of job openings declined in most sectors. As the economy slows, firms will likely cut openings and workers will be less likely to quit in search of better hours and higher pay”.
Widely tracked, Dow Jones Industrial Average registered a decline of 0.6%.
The closing amount for Dow Jones Industrial Average was 33,402.38, relatively lower than the previous close of 33,601.15. Nasdaq Composite Index showed a trend of downfall as well, 0.5% to be specific and closed at 12,126.33. In addition, the broad-based S&P 500 lost 0.6% to reach 4,100.60.
While the general reaction is anxiety and tense business activities, financial analyst Art Hogan of B. Riley Financial explained that it is hard to predict where we are heading. “While it’s historic and likely has a lot of eyeballs on it, it’s very difficult to draw a direct economic impact,” Hogan says.
Read our prediction on the Wall Street stock exchange – Will 2023 Be Bullish Or Bearish? Decoding The Business Trends.
However, these uncertainties have led traders to hesitate on stock investments and withdraw on the financial and industrial fronts. The result was a historically flat Wall Street stock exchange.
