How major US stock indexes fared Tuesday, 10/03/2023

Wall Street tumbled as it focused on the downside of a surprisingly strong job market.

The S&P 500 lost 1.4% Tuesday. The Dow fell 430 points and wiped out the last of its gains for the year so far. The Nasdaq composite led the market lower with a 1.9% drop as Big Tech stocks were among the market’s biggest losers.

Stocks fell after a report showed U.S. employers have many more job openings than expected. That raised expectations for interest rates to stay high, and the 10-year Treasury yield hit its highest level since 2007.

On Tuesday:

The S&P 500 fell 58.94 points, or 1.4%, to 4,229.45.

The Dow Jones Industrial Average fell 430.97 points, or 1.3%, to 33,002.38.

The Nasdaq composite fell 248.31 points, or 1.9%, to 13,059.47

The Russell 2000 index of smaller companies fell 29.66 points, or 1.7% to 1,727.15.

For the week:

The S&P 500 is down 58.60 points, or 1.4%.

The Dow is down 505.12 points, or 1.5%.

The Nasdaq is down 159.86 points, or 1.2%

The Russell 2000 is down 57.95 points, or 3.2%.

For the year:

The S&P 500 is up 389.95 points, or 10.2%.

The Dow is down 144.87 points, or 0.4%.

The Nasdaq is up 2,592.98 points, or 24.8%

The Russell 2000 is down 34.09 points, or 1.9%.