Traders work on the floor of the New York Stock Exchange during morning trading on December 10, 2025 in New York City.
Michael M. Santiago | Getty Images News | Getty Images
The S&P 500 fell for a third session Tuesday as traders digested the delayed release of the November jobs report.
The broad market index dropped 0.24% to settle at 6,800.26, while the Nasdaq Composite gained 0.23% to end at 23,111.46. The Dow Jones Industrial Average declined 302.30 points, or 0.62%, to close at 48,114.26.
U.S. crude oil also came under significant pressure on Tuesday, falling to its lowest level since early 2021. Energy stocks suffered losses along with it. Shares of oil majors Exxon Mobil and Chevron dropped roughly 2% each. Others such as ConocoPhillips and Marathon Petroleum were in the red as well.
Earlier Tuesday, November’s jobs report came in better than expected, showing an increase of 64,000 jobs for the month, according to the Bureau of Labor Statistics. Economists surveyed by Dow Jones predicted that nonfarm payrolls would grow by 45,000 in the period.
However, the BLS reported that October shed 105,000 jobs. The unemployment rate also increased to 4.6%, which was above the Dow Jones forecast for 4.5%, raising concerns about the state of the U.S. economy.
Odds of a Fed rate cut next month didn’t change following the latest jobs figures, as the CME FedWatch Tool showed little chance of another reduction in January. Fed funds futures traders are currently pricing in a 24% chance of a rate cut next month, the same as the day before.
“Today’s data paints a picture of an economy catching its breath,” said Gina Bolvin, president at Bolvin Wealth Management Group. “Job growth is holding on, but cracks are forming. Consumers are still standing, but not sprinting. This combination gives the Fed more freedom to pivot without panic — and gives investors a reason to lean into quality, income, and long-term themes rather than short-term noise.”
The day marked another losing session for the S&P 500 and the Dow. Losses in key artificial intelligence names weighed on the broader market on Monday. Notably, Broadcom, Oracle and Microsoft ended the session lower as investors continued to take profits from high-flying AI trades and move into other areas of the market, including health care and utilities.
“It’s completely normal for the AI trade and the tech trade to sell off and and take a breather,” Eric Diton, president and managing director at The Wealth Alliance, said to CNBC.
“Are there risks? Of course,” he added. “But is this an unhealthy market? No, we’re actually seeing a broadening of the market.”