Stock Market Today: Stocks Sink Ahead of February Jobs Report

The major benchmarks finished solidly lower Thursday as bank stocks sold off.

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(Image credit: Getty Images)

Stocks opened higher Thursday after data from the Labor Department showed that weekly jobless claims rose last week. Earlier this week, Federal Reserve Chair Jerome Powell warned that the central bank is prepared to issue more rate hikes should economic data continue to come in strong. 

But the enthusiasm was short-lived, with the major benchmarks turning lower in afternoon trading as investors reduced risk ahead of tomorrow's highly anticipated February jobs report. 

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Karee Venema
Senior Investing Editor, Kiplinger.com

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. 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.