The S&P 500 is down more than 1% as investors brace themselves for an uncertain earnings season and an impending inflation report
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| Uncertain earnings season and an impending inflation report | Lotal Ghana |
Stocks dropped as markets prepared for the start of earnings season. This week, several large companies will report their quarterly results, and investors are still concerned about the economy's potential impact of the upcoming June inflation report.
The Nasdaq Composite fell 2.3 percent, the S&P 500 fell 1.2 percent, and the Dow Jones Industrial Average fell 0.5 percent, or more than 200 points.
After a better-than-expected jobs report on Friday, stocks are coming off of a rare winning week. However, some experts think the robust labour market will give the Federal Reserve more confidence to keep raising rates aggressively as it attempts to lower inflation.
Since the yield curve is still inverted and the two-year Treasury yield is still somewhat higher than the ten-year rate, recession concerns have continued to weigh on stocks. It was trading at around 3.08 percent on Monday.
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