The ISM Services PMI for April pointed to only marginal growth, the slowest since late 2023, while the index for prices paid surged to its highest reading in more than two years, reflecting a sharp rise in input costs amid renewed trade disruptions tied to tariffs announced last month by President Donald Trump.The S&P 500 slipped 0.2% to 5,670, while the Nasdaq 100 matched the decline to 20,050.
Investors digested fresh signs of inflationary pressure in the services sector, raising doubts about near-term rate cuts and weighing on risk appetite.
Wall Street kicked off the week with a cautious tone, as major stock indices hovered near the flatline by midday in New York.
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