The markets have turned lower, with the Dow down 118 points.
The S&P 500 is down 14 points, and the Nasdaq is down 30 points.
Currently, the biggest losers in the Dow are the big banks with JPMorgan and Goldman Sachs lagging.
Earlier today we got inflation and personal spending data, with personal spending in May rising less than expected, while core PCE showed prices climbed 1.5% over last year, in line with expectations.
Core PCE is the Fed’s preferred measure of inflation.
Weekly jobless claims were also reported, and fell to 312,000 from 314,000 a week ago. Expectations were for 310,000.
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