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- trigeektrigeek
  ·2022-11-21
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  Does Amazon's Latest Healthcare Move Make It a Buy?
  Amazon has been trying to grow in the area of healthcare over the past couple of years.
  Does Amazon's Latest Healthcare Move Make It a Buy?
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- trigeektrigeek
  ·2022-09-30
  X@TigerPM @xtxyvgik
  US STOCKS-Wall Street Ends down Sharply; Investors Fret over Economy
  S&P 500 index touches two-year lowsAirlines, cruises fall on cancellations due to Hurricane IanCarMax slumps after missing second-quarter expectationsSept 29 (Reuters) - Wall Street ended sharply lowe
  US STOCKS-Wall Street Ends down Sharply; Investors Fret over Economy
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The e-commerce giant opened a pharmacy service two years ago. And the company&#39;s trying to get a foothold in telemedicine, though it hasn&#39;t been easy. Amazon is shuttering its own service, Amazon Care, and is in the process of buying <b>1Life Healthcare</b>, better known as One Medical -- a provider of in-person and virtual care.</p><p>But Amazon isn&#39;t stopping there. Its latest news is the creation of Amazon Clinic. This is an online service that lets you connect with clinicians for a variety of minor problems -- and get answers and prescriptions.</p><p>Let&#39;s take a closer look.</p><h2>An El Dorado</h2><p>Telemedicine represents a sort of El Dorado for players and potential players. The U.S. market is forecast to grow at a compound annual growth rate of more than 15% to nearly $25.9 billion by 2027, according to Polaris Market Research. Competition is high. And even a company with the resources of Amazon probably will have trouble beating a leader like <b>Teladoc Health</b>.</p><p>But Amazon&#39;s latest move may offer it an advantage in a niche market. Teladoc and others sell complete healthcare plans to corporations or individuals. But Amazon Clinic isn&#39;t a plan: It works like an online clinic -- and anyone can use it.</p><p>If you&#39;ve ever spent hours waiting at a walk-in clinic, you&#39;ll probably understand the potential of Amazon&#39;s latest venture in healthcare. Instead of going to an in-person clinic if you have a minor problem like sinusitis or pink eye, you fill out a questionnaire about your symptoms on Amazon. Then it connects you with a medical professional who will send you a treatment plan.</p><p>The service isn&#39;t covered by insurance. The price varies depending on the state you live in and the clinic you choose -- but as an example, a consultation for pink eye costs $30 to $35 at a Florida clinic on the platform.</p><p>Amazon Clinic is sure to be an easier alternative than waiting around at a crowded walk-in clinic for treatment. So the service does have potential to fill a need -- and become successful.</p><p>Does this make Amazon a buy? First, let&#39;s answer another question: Will Amazon Clinic make Amazon a major player in healthcare? That&#39;s unlikely.</p><h2>A niche market</h2><p>Even though this looks like a positive step for Amazon, we&#39;re talking about a niche. The revenue opportunity is limited. And the business won&#39;t necessarily drive patients to Amazon Pharmacy -- the prescriptions can be filled anywhere.</p><p>So, I wouldn&#39;t buy Amazon shares for this move. I wouldn&#39;t even buy shares for the company&#39;s plan to grow in the healthcare market, because it&#39;s still way too early to predict whether Amazon can become a leader.</p><p>The company has already stumbled twice. As I mentioned earlier, it&#39;s closing Amazon Care as of the end of this year. And last year, it ended a healthcare joint venture with <b>Berkshire Hathaway</b> and <b>JPMorgan Chase</b>.</p><p>But note that I actually <i>would</i> buy shares of Amazon today. Rather than for its healthcare efforts, I&#39;d buy them for its long-term growth potential in e-commerce and cloud computing.</p><p>Right now, higher inflation and general economic woes are weighing on those businesses. But these are temporary problems. Over the long term, Amazon has the market share and resources to thrive.</p><p>Today, the shares are trading at 1.9 times sales. That&#39;s around the lowest level by this measure since about 2015.</p><p>Amazon&#39;s ambitions in healthcare are something to watch. But the company&#39;s two main businesses are what make the stock a steal at today&#39;s levels.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Does Amazon's Latest Healthcare Move Make It a Buy?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDoes Amazon's Latest Healthcare Move Make It a Buy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-21 07:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/11/20/does-amazons-latest-healthcare-move-make-it-a-buy/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It's clear that Amazon wants to make its mark in the world of healthcare. The e-commerce giant opened a pharmacy service two years ago. And the company's trying to get a foothold in telemedicine, ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/11/20/does-amazons-latest-healthcare-move-make-it-a-buy/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://www.fool.com/investing/2022/11/20/does-amazons-latest-healthcare-move-make-it-a-buy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2284353066","content_text":"It's clear that Amazon wants to make its mark in the world of healthcare. The e-commerce giant opened a pharmacy service two years ago. And the company's trying to get a foothold in telemedicine, though it hasn't been easy. Amazon is shuttering its own service, Amazon Care, and is in the process of buying 1Life Healthcare, better known as One Medical -- a provider of in-person and virtual care.But Amazon isn't stopping there. Its latest news is the creation of Amazon Clinic. This is an online service that lets you connect with clinicians for a variety of minor problems -- and get answers and prescriptions.Let's take a closer look.An El DoradoTelemedicine represents a sort of El Dorado for players and potential players. The U.S. market is forecast to grow at a compound annual growth rate of more than 15% to nearly $25.9 billion by 2027, according to Polaris Market Research. Competition is high. And even a company with the resources of Amazon probably will have trouble beating a leader like Teladoc Health.But Amazon's latest move may offer it an advantage in a niche market. Teladoc and others sell complete healthcare plans to corporations or individuals. But Amazon Clinic isn't a plan: It works like an online clinic -- and anyone can use it.If you've ever spent hours waiting at a walk-in clinic, you'll probably understand the potential of Amazon's latest venture in healthcare. Instead of going to an in-person clinic if you have a minor problem like sinusitis or pink eye, you fill out a questionnaire about your symptoms on Amazon. Then it connects you with a medical professional who will send you a treatment plan.The service isn't covered by insurance. The price varies depending on the state you live in and the clinic you choose -- but as an example, a consultation for pink eye costs $30 to $35 at a Florida clinic on the platform.Amazon Clinic is sure to be an easier alternative than waiting around at a crowded walk-in clinic for treatment. So the service does have potential to fill a need -- and become successful.Does this make Amazon a buy? First, let's answer another question: Will Amazon Clinic make Amazon a major player in healthcare? That's unlikely.A niche marketEven though this looks like a positive step for Amazon, we're talking about a niche. The revenue opportunity is limited. And the business won't necessarily drive patients to Amazon Pharmacy -- the prescriptions can be filled anywhere.So, I wouldn't buy Amazon shares for this move. I wouldn't even buy shares for the company's plan to grow in the healthcare market, because it's still way too early to predict whether Amazon can become a leader.The company has already stumbled twice. As I mentioned earlier, it's closing Amazon Care as of the end of this year. And last year, it ended a healthcare joint venture with Berkshire Hathaway and JPMorgan Chase.But note that I actually would buy shares of Amazon today. Rather than for its healthcare efforts, I'd buy them for its long-term growth potential in e-commerce and cloud computing.Right now, higher inflation and general economic woes are weighing on those businesses. But these are temporary problems. Over the long term, Amazon has the market share and resources to thrive.Today, the shares are trading at 1.9 times sales. That's around the lowest level by this measure since about 2015.Amazon's ambitions in healthcare are something to watch. But the company's two main businesses are what make the stock a steal at today's levels.","news_type":1},"isVote":1,"tweetType":1,"viewCount":216,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9916311082,"gmtCreate":1664508905346,"gmtModify":1676537468651,"author":{"id":"3571797910854113","authorId":"3571797910854113","name":"trigeek","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571797910854113","authorIdStr":"3571797910854113"},"themes":[],"htmlText":"X<a href=\"https://ttm.financial/U/3527667588142897\">@TigerPM</a><a href=\"https://ttm.financial/U/3540954971013158\">@xtxyvg</a>ik","listText":"X<a href=\"https://ttm.financial/U/3527667588142897\">@TigerPM</a><a href=\"https://ttm.financial/U/3540954971013158\">@xtxyvg</a>ik","text":"X@TigerPM@xtxyvgik","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9916311082","repostId":"2271749477","repostType":2,"repost":{"id":"2271749477","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1664492803,"share":"https://ttm.financial/m/news/2271749477?lang=&edition=fundamental","pubTime":"2022-09-30 07:06","market":"us","language":"en","title":"US STOCKS-Wall Street Ends down Sharply; Investors Fret over Economy","url":"https://stock-news.laohu8.com/highlight/detail?id=2271749477","media":"Reuters","summary":"S&P 500 index touches two-year lowsAirlines, cruises fall on cancellations due to Hurricane IanCarMax slumps after missing second-quarter expectationsSept 29 (Reuters) - Wall Street ended sharply lowe","content":"<html><head></head><body><ul><li>S&amp;P 500 index touches two-year lows</li><li>Airlines, cruises fall on cancellations due to Hurricane Ian</li><li>CarMax slumps after missing second-quarter expectations</li></ul><p>Sept 29 (Reuters) - Wall Street ended sharply lower on Thursday on worries that the Federal Reserve&#39;s aggressive fight against inflation could hobble the U.S. economy, and as investors fretted about a rout in global currency and debt markets.</p><p>With tech-related heavyweights Tesla Inc, Apple Inc and Nvidia Corp all slumping, the Nasdaq sank to near its lowest level of 2022, set in mid-June.</p><p>The S&amp;P 500 touched lows last seen in November 2020. Down more than 8% in September, the benchmark is on track for its worst September since 2008.</p><p>A sell-off in U.S. Treasuries resumed as Fed officials gave no indication the U.S. central bank would moderate or change its plans to aggressively raise interest rates to bring down high inflation.</p><p>Cleveland Fed President Loretta Mester said she does not see distress in U.S. financial markets that would alter the central bank&#39;s campaign to lower inflation through rate hikes that have taken the Fed funds rate to a range of 3.0% to 3.25%.</p><p>Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed&#39;s aggressive interest rate hikes.</p><p>&#34;Good news is bad news in that today&#39;s job number again reiterates that the Fed has a long way to go,&#34; said Phil Blancato, head of Ladenburg Thalmann Asset Management in New York. &#34;The fear in the marketplace is that the Fed is going to push us into a very deep recession, which will cause an earnings recession, which is why the market is selling off.&#34;</p><p>The yields on many Treasuries, which are considered virtually risk-free if held to maturity, now dwarf the S&amp;P 500&#39;s dividend yield, which recently stood at about 1.8%, according to Refinitiv Datastream.</p><p>According to preliminary data, the S&amp;P 500 lost 77.83 points, or 2.09%, to end at 3,641.21 points, while the Nasdaq Composite lost 313.25 points, or 2.83%, to 10,738.39. The Dow Jones Industrial Average fell 455.19 points, or 1.53%, to 29,228.55.</p><p>Among the 11 S&amp;P 500 sector indexes, consumer discretionary tumbled as automobile stocks slumped, while utilities also fell heavily.</p><p><a href=\"https://laohu8.com/S/META\">Meta Platforms</a> ended lower after Bloomberg reported the Facebook-owner froze hiring and warned employees of more downsizing to come.</p><p>CarMax Inc slumped after the used-car retailer missed expectations for second-quarter results, hurt by consumers cutting spending amid inflation, rising interest rates and higher car prices.</p><p>General Motors Co and Ford Motor Co also fell sharply.</p><p>Airline carriers and cruise operators fell on canceled or delayed trips after Hurricane Ian hit Florida&#39;s Gulf Coast with catastrophic force.</p><p>American Airlines, United Airlines Holdings and Delta Air Lines each lost ground.</p><p>Cruise ship companies Norwegian Cruise Line Holdings Ltd and Carnival Corp also fell.</p><p><img src=\"https://static.tigerbbs.com/87da3c80064ea1ac1c018d5f1c2763b7\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US STOCKS-Wall Street Ends down Sharply; Investors Fret over Economy</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS STOCKS-Wall Street Ends down Sharply; Investors Fret over Economy\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-09-30 07:06</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><ul><li>S&amp;P 500 index touches two-year lows</li><li>Airlines, cruises fall on cancellations due to Hurricane Ian</li><li>CarMax slumps after missing second-quarter expectations</li></ul><p>Sept 29 (Reuters) - Wall Street ended sharply lower on Thursday on worries that the Federal Reserve&#39;s aggressive fight against inflation could hobble the U.S. economy, and as investors fretted about a rout in global currency and debt markets.</p><p>With tech-related heavyweights Tesla Inc, Apple Inc and Nvidia Corp all slumping, the Nasdaq sank to near its lowest level of 2022, set in mid-June.</p><p>The S&amp;P 500 touched lows last seen in November 2020. Down more than 8% in September, the benchmark is on track for its worst September since 2008.</p><p>A sell-off in U.S. Treasuries resumed as Fed officials gave no indication the U.S. central bank would moderate or change its plans to aggressively raise interest rates to bring down high inflation.</p><p>Cleveland Fed President Loretta Mester said she does not see distress in U.S. financial markets that would alter the central bank&#39;s campaign to lower inflation through rate hikes that have taken the Fed funds rate to a range of 3.0% to 3.25%.</p><p>Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed&#39;s aggressive interest rate hikes.</p><p>&#34;Good news is bad news in that today&#39;s job number again reiterates that the Fed has a long way to go,&#34; said Phil Blancato, head of Ladenburg Thalmann Asset Management in New York. &#34;The fear in the marketplace is that the Fed is going to push us into a very deep recession, which will cause an earnings recession, which is why the market is selling off.&#34;</p><p>The yields on many Treasuries, which are considered virtually risk-free if held to maturity, now dwarf the S&amp;P 500&#39;s dividend yield, which recently stood at about 1.8%, according to Refinitiv Datastream.</p><p>According to preliminary data, the S&amp;P 500 lost 77.83 points, or 2.09%, to end at 3,641.21 points, while the Nasdaq Composite lost 313.25 points, or 2.83%, to 10,738.39. The Dow Jones Industrial Average fell 455.19 points, or 1.53%, to 29,228.55.</p><p>Among the 11 S&amp;P 500 sector indexes, consumer discretionary tumbled as automobile stocks slumped, while utilities also fell heavily.</p><p><a href=\"https://laohu8.com/S/META\">Meta Platforms</a> ended lower after Bloomberg reported the Facebook-owner froze hiring and warned employees of more downsizing to come.</p><p>CarMax Inc slumped after the used-car retailer missed expectations for second-quarter results, hurt by consumers cutting spending amid inflation, rising interest rates and higher car prices.</p><p>General Motors Co and Ford Motor Co also fell sharply.</p><p>Airline carriers and cruise operators fell on canceled or delayed trips after Hurricane Ian hit Florida&#39;s Gulf Coast with catastrophic force.</p><p>American Airlines, United Airlines Holdings and Delta Air Lines each lost ground.</p><p>Cruise ship companies Norwegian Cruise Line Holdings Ltd and Carnival Corp also fell.</p><p><img src=\"https://static.tigerbbs.com/87da3c80064ea1ac1c018d5f1c2763b7\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2271749477","content_text":"S&P 500 index touches two-year lowsAirlines, cruises fall on cancellations due to Hurricane IanCarMax slumps after missing second-quarter expectationsSept 29 (Reuters) - Wall Street ended sharply lower on Thursday on worries that the Federal Reserve's aggressive fight against inflation could hobble the U.S. economy, and as investors fretted about a rout in global currency and debt markets.With tech-related heavyweights Tesla Inc, Apple Inc and Nvidia Corp all slumping, the Nasdaq sank to near its lowest level of 2022, set in mid-June.The S&P 500 touched lows last seen in November 2020. Down more than 8% in September, the benchmark is on track for its worst September since 2008.A sell-off in U.S. Treasuries resumed as Fed officials gave no indication the U.S. central bank would moderate or change its plans to aggressively raise interest rates to bring down high inflation.Cleveland Fed President Loretta Mester said she does not see distress in U.S. financial markets that would alter the central bank's campaign to lower inflation through rate hikes that have taken the Fed funds rate to a range of 3.0% to 3.25%.Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.\"Good news is bad news in that today's job number again reiterates that the Fed has a long way to go,\" said Phil Blancato, head of Ladenburg Thalmann Asset Management in New York. \"The fear in the marketplace is that the Fed is going to push us into a very deep recession, which will cause an earnings recession, which is why the market is selling off.\"The yields on many Treasuries, which are considered virtually risk-free if held to maturity, now dwarf the S&P 500's dividend yield, which recently stood at about 1.8%, according to Refinitiv Datastream.According to preliminary data, the S&P 500 lost 77.83 points, or 2.09%, to end at 3,641.21 points, while the Nasdaq Composite lost 313.25 points, or 2.83%, to 10,738.39. The Dow Jones Industrial Average fell 455.19 points, or 1.53%, to 29,228.55.Among the 11 S&P 500 sector indexes, consumer discretionary tumbled as automobile stocks slumped, while utilities also fell heavily.Meta Platforms ended lower after Bloomberg reported the Facebook-owner froze hiring and warned employees of more downsizing to come.CarMax Inc slumped after the used-car retailer missed expectations for second-quarter results, hurt by consumers cutting spending amid inflation, rising interest rates and higher car prices.General Motors Co and Ford Motor Co also fell sharply.Airline carriers and cruise operators fell on canceled or delayed trips after Hurricane Ian hit Florida's Gulf Coast with catastrophic force.American Airlines, United Airlines Holdings and Delta Air Lines each lost ground.Cruise ship companies Norwegian Cruise Line Holdings Ltd and Carnival Corp also fell.","news_type":1},"isVote":1,"tweetType":1,"viewCount":286,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"following","isTTM":true}