US stocks slipped as traders fret whether or not the labor market remains too hot for the Federal Reserve to forestall another interest rate increase next month.
The S&P 500 and the tech-heavy Nasdaq 100 slumped after the latest readout showed weekly unemployment claims holding near historical lows. The benchmarks were stuck in narrow ranges as stocks traders hesitated to make big bets ahead of Friday’s key monthly non-farm payrolls report which could help inform the central bank’s next policy move.
