Stocks hammered after this week's labor data shows investors treating 'bad news as bad news'

Stocks hammered after this week's labor data shows investors treating 'bad news as bad news'
https://finance.yahoo.com/news/stocks-hammered-after-this-weeks-labor-data-shows-investors-treating-bad-news-as-bad-news-170211135.html

Summary

Certainly! Here are the key takeaways from the article:

• Market Decline: Weaker economic data, including low US manufacturing activity and high unemployment claims, has led to a stock market decline. The S&P 500 and Nasdaq Composite have fallen significantly.
• Shift in Market Sentiment: Investors are now treating bad news as negative, unlike before when it was seen as positive due to inflation concerns.
• Interest Rate Expectations: Markets are pricing in more than four interest rate cuts by the Federal Reserve in 2024, with a 70% chance of a 50 basis point cut in September[^1^][1].
• Bond Rally: Weak data has caused a rally in bonds, with the 10-year Treasury yield dropping to its lowest level since December 2023[^2^][2].