Stocks End Lower. The Market Is Looking to the Jobs Report.
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CONCLUDEDThe S&P 500 Loses Steam Ahead of Jobs ReportLast Updated: 1 hour agoStocks End Lower.
The Market Is Looking to the Jobs Report.ByJacob SonenshineThe stock market dropped Monday, lead by declines in technology. The focus is now squarely on Tuesday’s jobs data.The Dow Jones Industrial Average fell 0.1%, while the S&P 500 dropped 0.2% and the tech-heavy Nasdaq Composite tumbled 0.6%.Many stocks were in the green, but market participants are locked in selling mode with tech stocks. They’re taking profit after years of outperformance, especially as risks pile up. The market is concerned about returns on the massive data center investments that software companies are making to build out their artificial intelligence capabilities. Worry is also emerging that, if the software space curbs its data center investments, demand for AI data center chips will drop, hurting chip makers.