Stocks Drop Again As Economic Momentum Cools
• Stocks fell again, with the S&P 500 down 0.8% and the Nasdaq leading the market lower with a 1.2% drop • Some of last year's biggest winners like Tesla declined, raising questions if recent stock enthusiasm was warranted • Reports showed signs of a cooling economy which the Fed hopes will limit inflation without widespread layoffs • Minutes from the Fed's latest meeting revealed most officials expect to cut rates in 2023 to support the economy • Critics say the stock market has risen too quickly recently and is due for a pause even if the Fed orchestrates a soft landing