New York, NY – Stocks in the US continued to decline on Tuesday as investors digested new economic data. Reports hinting at a potential missile strike by Iran against Israel pushed bond yields down and lifted crude oil prices.

The Dow Jones Industrial Average dropped by around 0.5%, while the S&P 500 fell by approximately 1%, following record highs for both indices at the end of the previous quarter. The Nasdaq Composite, heavy on technology stocks, saw losses of about 1.7% in early trading.

Fresh data on jobs and manufacturing at the start of the new quarter provided investors with more clues about the Federal Reserve’s stance on interest rates. Federal Reserve Chair Jerome Powell’s indication that there is no rush to cut rates quickly was being closely watched by investors.

Surprisingly, job openings increased in August, signaling a slight cooling but not a significant slowdown in the labor market. The number of job openings rose from 7.71 million in July to 8.04 million by the end of August.

US manufacturing remained steady in September, according to the Institute for Supply Management (ISM), with a PMI of 47.2. A PMI below 50 indicates a contraction in the manufacturing sector.

The week is filled with important economic data, with Friday’s September jobs report being the highlight. Investors are eagerly awaiting confirmation that the US economy is cooling down rather than facing a collapse.

Simultaneously, a dockworkers’ strike on the East and Gulf coasts poses a threat to disrupt over half of the US’s ocean shipping, potentially costing the economy billions of dollars per day and affecting inflation, jobs, and even politics.