U.S. stocks dropped, with the Nasdaq losing over 1%, as investors grew cautious after Iran fired missiles at Israel. Energy and defense stocks rose, while airlines fell. The Dow, S&P 500, and Nasdaq all declined. Market volatility increased and traders speculated on future Federal Reserve rate actions. Investors were also wary of upcoming job data and ongoing port strikes.
Wall Street falls as jobs data stokes inflation fears
A Labor Department report showed job growth unexpectedly accelerated in December while the unemployment rate fell to 4.1% as the labor market ended the year
January 11, 2025