Wall Street Woes: Markets Slip Amid Economic Concerns

Wall Street indices fell as healthcare and energy stocks dragged after economic data suggested ambiguous Federal Reserve policy in 2024. Unemployment rose to 4.6% due to economic uncertainty, prompting skepticism from experts like Seema Shah. Despite declines in major indices, some sectors saw gains.

Wall Street's indices dipped on Tuesday, impacted by losses in healthcare and energy stocks, as investors parsed economic data for clues on the Federal Reserve's 2024 policy direction. The Labor Department revealed a 64,000 job increase in November despite previous declines due to government cutbacks.

However, the unemployment rate rose to 4.6%, influenced by President Trump's trade policies. Seema Shah, Principal Global Investors' chief global strategist, highlighted skepticism from Fed Chair Powell over the jobs data. The rise in unemployment stokes concerns within the Federal Reserve.

Post-data release, market speculators anticipate increased rate cuts next year, with indices posting noticeable declines. Energy sectors led the losses as crude prices fell, though airlines such as United and Southwest Airlines saw gains. Healthcare dropped 1.4%, with Pfizer struggling over predicted future challenges.

(With inputs from agencies.)