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Adding to market woes, the University of Michigan\u2019s consumer sentiment index fell to 64.7 in January, a 10% decline and well below expectations. The report highlighted growing consumer anxiety over inflation, with the five-year inflation outlook hitting 3.5%, the highest level since 1995.<\/p>\n
Tom Fitzpatrick, managing director at R.J. O\u2019Brien and Associates, expressed concern over the data, noting, \u201cIt\u2019s still early, but looking at these things and the way fixed income is trading is suggesting things are not as rosy as people thought.\u201d<\/p>\n
The industrials sector led losses, down 1.42%, followed by consumer discretionary stocks, which fell 1.13%. The technology sector also dropped 0.71%, adding to the broad-based decline.<\/p>\n
Energy stocks slid 0.72% as oil prices wavered, while materials and real estate sectors were off 0.73% and 0.57%, respectively. Health care stocks dropped 0.31%, largely impacted by UnitedHealth\u2019s slump.<\/p>\n
On a brighter note, consumer staples rose 0.31%, and financials edged up 0.04%, providing some stability amid broader market weakness.<\/p>\n
Investors were rattled by fresh data showing a slowdown in U.S. manufacturing and services activity. The S&P Global manufacturing PMI came in at 51.6, meeting expectations, but the services PMI unexpectedly dropped to 49.7, its lowest level in over two years.<\/p>\n<\/div>\n
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[ad_1] Adding to market woes, the University of Michigan\u2019s consumer sentiment index fell to 64.7 in January, a 10% decline and well below expectations. The report highlighted growing consumer anxiety over inflation, with the five-year inflation outlook hitting 3.5%, the highest level since 1995. Tom Fitzpatrick, managing director at R.J. O\u2019Brien and Associates, expressed concern over the data, noting, \u201cIt\u2019s still early, but looking at these things and the way fixed income is trading is suggesting things are not as rosy as people thought.\u201d Which Sectors Struggled Most? The industrials sector led losses, down 1.42%, followed by consumer discretionary stocks, which fell 1.13%. The technology sector also dropped 0.71%, adding to the broad-based decline. Energy stocks slid 0.72% as oil prices wavered, while materials and real estate sectors were off 0.73% and 0.57%, respectively. Health care stocks dropped 0.31%, largely impacted by UnitedHealth\u2019s slump. On a brighter note, consumer staples rose 0.31%, and financials edged up 0.04%, providing some stability amid broader market weakness. How Did Economic Data Influence Market Sentiment? Investors were rattled by fresh data showing a slowdown in U.S. manufacturing and services activity. The S&P Global manufacturing PMI came in at 51.6, meeting expectations, but the services PMI unexpectedly dropped to 49.7, its lowest level in over two years. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":35986,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-35985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t