S&P 500 And Dow Losses Deepen As Fed Rate Hike Worries Spread

All three major U.S. stock indexes fell deeper into negative territory Wednesday as data showed job openings hit a record 5.75 million in July, prompting renewed worries about a possible Federal Reserve interest rate hike. "Increased jobs is bad news for monetary policy," said Kent Engelke, chief economic strategist at Capitol Securities Management Inc. The S&P 500 fell 9 points to 1960, while the Dow Jones Industrial Average dropped 79 points to 16,413 and the Nasdaq Composite shed 7 points to 4,804. Apple shares were off 0.1% to $112.23 in volatile trading as the company hosted an event in San Francisco to unveil new iPhones.

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