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

By Sue ChangMarketWatch Pulse

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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