S&P 500 DROPS AND EXTENDS ITS LOSSES PAST THE 3930 AREA, AHEAD OF US NFP, CPI DATA

The S&P 500, the Nasdaq 100, and the Dow Jones dropped as traders prepared for US NFP.

The latest round of US economic data spurred a hawkish shift in the Federal Reserve.

US President Joe Biden presented his budget for 2024.

Wall Street maintains a downbeat mode late in the New York session, with US equities registering substantial losses. Sentiment shifted sour, with traders expecting additional labor market data and next week’s inflationary figures as the Federal Reserve (Fed) prepares for the upcoming meeting.

At the time of typing, the S&P 500 is falling 1.43%, at 3,925.50. Following suit is the heavy-tech Nasdaq 100, down 1.58% at 11,390.53, while the Dow Jones drops 1.31%, at 32,367.39.