U.S. stocks fell to fresh session lows in late morning trading on Thursday, as another benign inflation reading did little to ease concerns over a persistent trade war.
The benchmark S&P 500 was down about 0.8% , while the tech-heavy Nasdaq Composite slid roughly 1.3%. The blue-chip Dow Jones Industrial Average decreased by about 0.7%. These declines come after the Nasdaq and S&P 500 rebounded on Wednesday following a two?day rout that briefly pushed the S&P 500 into correction territory.
Paul Stanley, chief investment officer at Granite Bay Wealth Management, noted, The stock market is trying to find a bottom with the S&P 500 close to correction territory. This process takes time. He added that while pinpointing the exact bottom is challenging, current valuations could attract new investments as market watchers continue to monitor economic data amid persistent volatility.
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