The Dow is about to give up all of its gains for 2023

Tue, 10/03/2023 - 13:50

traders nyse phone — The Dow Jones Industrial Average has tumbled from its highs this year.
Reuters

The Dow Jones Industrial Average is down more than 400 points Tuesday.
It's on pace to close the trading session slightly in the red for 2023.
Bond yields spiked after fresh labor data, which pointed to a still-resilient job market.

After a strong to the year, the Dow Jones Industrial Average is on pace Tuesday to give up all of its 2023 gains.

Around 1:45 p.m. in New York on Tuesday, the key index had lost over 400 points, or about 1.4%. At the same time, the S&P 500 shed about 1.34% to hit its lowest level since June, and the Nasdaq dropped more than 1.8%.

While the Dow has lagged stronger gains posted by the S&P 500 and the Nasdaq this year, the index was still up about 8% at its 2023 peak in August.