Stocks down after report shows 208,000 new jobs. Here's why.

Following two strong days of buying to start the last quarter of 2022, markets soured on Wednesday after a report showed 208,000 new jobs in September

NEW YORK — Wall Street futures pointed lower Thursday with ongoing concerns that a resilient job market will keep the Federal Reserve on track for another big rate hike early next month.

Futures for the Dow Jones Industrial Average and the S&P 500 each declined 0.4%.

Following two strong days of buying to start the last quarter of 2022, markets soured on Wednesday after a report by payroll processor ADP showed that employers added 208,000 jobs in September.

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