Economic Concerns Impact Stock Market

Market Performance: The S&P 500, Dow Jones, and Nasdaq 100 indices fell to new two-week lows, driven by weakness in technology and semiconductor stocks, alongside economic concerns highlighted by rising job cuts and declining consumer sentiment.

Federal Reserve Commentary: Fed Vice Chair Philip Jefferson's hawkish remarks on interest rates contributed to market negativity, indicating a cautious approach to rate cuts as the economy faces restrictive conditions.

Corporate Earnings: Despite a strong earnings season with 81% of S&P 500 companies beating forecasts, Q3 profit growth is projected to be the smallest in two years, reflecting slowing sales growth.

Global Economic Indicators: Weaker-than-expected Chinese trade data and ongoing US government shutdown are negatively impacting market sentiment, while European bond yields are rising amid mixed inflation expectations.