Cobra's Market View

S&P 500, Dow Can't Shake Off Downward Pressure
Tue Sep 14 13:12:00 2021
By Caitlin Ostroff and Alexander Osipovich (Source: Dow Jones Newswires)

The S&P 500 and Dow Jones Industrial Average fell on Tuesday, continuing their recent pullback even after fresh data showed that inflation climbed at a slower pace than economists expected in August.


The S&P declined 0.5% in early afternoon trading, while the Dow shed 290 points, or 0.9%. The technology-heavy Nasdaq Composite gained less than 0.1%.


Major U.S. stock indexes rose after the opening bell before turning lower. The market has broadly pulled back this month amid concerns that rising cases of the Delta variant of Covid-19 could weigh on economic activity and that stocks have rallied for too long without a correction.


"I'm hearing more and more calls for a correction in the market," said Jack Janasiewicz, a portfolio manager at Natixis Investment Managers Solutions.