US shares close lower post-JOLTS data

US shares have closed with losses for the third consecutive session, partially impacted by surging job openings. Each of the 11 S&P 500 sectors were in the red territory.

Tuesday’s JOLTS data add more concerns around the hawkish stance adopted by the US central bank, just giving policymakers enough reasons to pursue interest rate hikes to contain inflation.

The S&P 500 index has dropped more than 5% since Fed Chair Jerome Powell’s latest comments on Friday regarding the Fed’s policy in the upcoming months.

Labour demand showed no signs of cooling as U.S. job openings rose to 11.239 million in July and the prior month was revised sharply higher. JOLTS data increases the traders and investors’ focus on the August non-farm payrolls data due on Friday.