The Dow and Nasdaq dropped triple digits today, while the S&P 500 finished in the red as well, as stocks resumed their fed-induced slide. Investors unpacked better-than-expected initial weekly jobless claims of 213,000 for last week, but retail sales and manufacturing data weighed on sentiment, as both pointed to an economic slowdown. Also dragging the market is Adobe (ADBE), following its latest buyout deal.

The Dow Jones Average (DJI - 30,961.82) lost 173.3 points or 0.6% for the day. UnitedHealth (UNH) led the gainers with a 2.6% rise, while Salesforce (CRM) landed at the bottom of the list with a 3.4% drop. 

The S&P 500 Index (SPX - 3,901.35) shed 44.7 points, or 1.1% for the day, while the Nasdaq Composite (IXIC - 11,552.36) dropped 167.3 points or 1.4%.

Lastly, the Cboe Volatility Index (VIX - 26.27) added 0.1 points or 0.4%. 

Oil, Gold Drop Lower

Oil prices moved and sank today, dropping to their lowest mark in a week amid demand concerns. October-dated West Texas Intermediate (WTI) crude fell $3.38, or 3.8%, to settle at $85.10 a barrel. 

Gold futures fell for the third-straight day to their lowest level since April 3, 2020, as the U.S. dollar strengthened and Fed fears loomed. December-dated gold dropped $31.80, or 1.9%, to settle at $1,677.30 an ounce.

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