Stock market today: Indexes drop as hot labor data adds pressure ahead of Fed meeting
Photo of a help wanted sign along Middle Country Road in Selden on July 20, 2021.
Thomas A. Ferrara/Newsday RM/Getty Images
- US stocks slid Tuesday after a hotter-than-expected employee cost index.
- The quarterly measure saw wage and labor costs accelerate, adding pressure on the Fed.
- Tuesday marks the start of the Fed's meeting of the Federal Open Market Committee.
US equity markets slipped Tuesday as hot labor data stoked fresh bets the Federal Reserve would remain hawkish on monetary policy.
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