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June 4 - The S&P 500 and the Nasdaq slipped on Tuesday after the latest labor market data compounded worries about growing weakness in the world's largest economy.
Following the data, yields on Treasury bonds slipped, with expectations for a September rate reduction standing at 66.66%, up from about 65% before the report, according to the CME's FedWatch tool. "The ISM manufacturing yesterday a slowdown in growth or decrease in activity, and if we see a slowdown in nonfarm payrolls, that's going to be more of a warning sign," said Robert Pavlik, senior portfolio manager at Dakota Wealth."A number of stocks have gotten hit harder than the overall market, but those are the ones that have performed extremely well."
At 10:18 a.m. ET, the Dow Jones Industrial Average , opens new tab was up 74.32 points, or 0.19%, at 38,645.35, the S&P 500 , opens new tab was down 10.99 points, or 0.21%, at 5,272.41, and the Nasdaq Composite , opens new tab was down 57.87 points, or 0.34%, at 16,770.80. Axos Financial , opens new tab plunged 8.7% after Hindenburg Research disclosed a short position in the lender.
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