Stock Market Today: Stocks Sink on Strong Economic Data

The major indexes erased early gains after the latest jobs and consumer confidence data were released.

tugboat sinking in ocean
(Image credit: Getty Images)

There was a glimmer of hope at Tuesday's open that today might be the day stocks reverse their recent downward trend. But that was dashed mid-morning when the major market indexes took a decisive turn lower after a pair of economic reports poured cold water on expectations the Fed might slow its rate-hiking campaign anytime soon.

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.