Stock Market Today: Wall Street Slips From All-Time High as Cuts to Rates Look Further Off

A trader looks over his cell phone outside the New York Stock Exchange in the financial district of Manhattan in New York on Sept. 14, 2022. Mary Altaffer/AP Photo

NEW YORK—Stocks slipped Monday following the latest signal that the economy remains strong, which could delay the cuts to interest rates that Wall Street wants.

The S&P 500 fell 15.80 points, or 0.3 percent, to 4,942.81 from the all-time high set Friday. The Dow Jones Industrial Average dropped 274.30, or 0.7 percent, to 38,380.12, and the Nasdaq composite edged down by 31.28, or 0.2 percent, to 15,597.68.