Wall St slips as labor market data fuels Fed worry

Published by
Reuters

By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stock indexes closed lower on Thursday after data pointing to a tight labor market renewed concerns the Federal Reserve will continue its aggressive path of rate hikes that could lead the economy into a recession. A report from the Labor Department showed weekly jobless claims were lower than expected, indicating the labor market remains solid despite the Fed’s efforts to stifle demand for workers. Expectations the central bank would further dial down the size of its interest rate increases at its policy announcement next month were unchanged by t…

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