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Wall Street falls as job openings data adds to rate hike jitters

Best Buy sales beat estimates as discounts spur demand; Jobs openings in July rises sharply

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Reuters
Wall Street's main indexes fell for the third straight session on Tuesday as a sharp rise in job openings added to worries about the U.S. Federal Reserve's aggressive approach to bring down inflation.
 
The benchmark S&P 500 index has slumped 5% since Fed Chair Jerome Powell last week reaffirmed the central bank's determination to raise interest rates despite a slowing economy.

Labor demand showed no signs of cooling as U.S. job openings rose to 11.239 million in July, while a separate report showed consumer confidence rebounded strongly in August after three straight monthly declines.

All eyes are now on the

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Aug 30 2022 | 9:14 PM IST

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