Stock Market Today: Stocks Swing Lower as March Jobs Report Looms

The main indexes turned negative in mid-afternoon trading as all eyes turned to tomorrow morning's key employment update.

closeup of stock chart with red and green bars indicating selloff
(Image credit: Getty Images)

Stocks spent most of Thursday in positive territory thanks to strong gains in several mega-cap names. However, the main indexes took a nosedive in the final hour of the session as anxiety ramped up ahead of tomorrow morning's release of the March nonfarm payroll report. 

Comments from Minneapolis Fed President Neel Kashkari also poured cold water on the market's earlier momentum. In an interview with Pensions and Investments Magazine, the central bank official wondered if it's even necessary to cut interest rates with the economy as strong as it is. "If we continue to see inflation moving sideways, it would make me question whether we needed to do those rate cuts at all," Kashkari said.

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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.