Stocks Sink as Fed Clouds Gather Before Data Wave: Markets Wrap

Wall Street traders bracing for an economic data deluge as the US shutdown ended drove stocks and bonds lower on concern over whether the data will be able to clear the path for a Federal Reserve rate cut.

With much of the optimism about the government reopening already priced in, the S&P 500 dropped over 1%. A selloff in big tech weighed heavily on trading. Treasury yieldsclimbed across the curve as money markets projected about even odds of a central bank reduction in December.

Wall Street braces for data deluge.

Photographer: Al Drago/Bloomberg

President Donald Trump signed legislation to end the longest government shutdown in US history. ...