Stock Market Nervousness Mounts as Powell’s Speech Looms Large

The stock market experienced a downturn on Thursday, driven by concerning job data and disappointing earnings reports. The Dow Jones Industrial Average shed over 200 points, while the S&P 500 and Nasdaq also closed lower. Walmart’s earnings shortfalls contributed significantly to the Dow’s decline, with shares falling over 4%. Jobless claims exceeded expectations, casting a shadow on the health of the labor market. For investors, this combination of weak economic indicators and uneven corporate performance amplified pre-existing concerns ahead of Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole symposium.