Stock market today: Indexes slide as investors await crucial economic data

• The fourth quarter started with losses in the stock market.
• Investors are in wait-and-see mode back ahead of new job-opening and manufacturing data on Tuesday.
• Traders are also keeping watch on the port strikes on both the East and West Coasts.

Major stock indexes slid on Tuesday to kick off the fourth quarter.

All eyes are on economic data this week that could sway market confidence. Labor prints are particularly important, as job-market strength will determine Federal Reserve policy in its November meeting.

Job openings data is scheduled for Tuesday morning, followed by the ADP employment report and initial jobless claims on Wednesday and Thursday.

The September jobs report will arrive on Friday, with economists forecasting 150,000 jobs added for the month. Unemployment is projected to stay flat at 4.2%.

A strike affecting US ports on both the East and West Coasts is also drawing trader attention this week, as analysts start to caution about macroeconomic impacts.

Here's where US indexes stood at the 9:30 a.m. opening bell on Tuesday:

• S&P 500: 5,715.25, down 0.8%
• Dow Jones Industrial Average: 42,055.24, down 0.7% (275 points)
• Nasdaq composite: 17,978.76, down 1.2%

Here's what else happened today:

• The equity market faces a 10% correction as the labor market stalls, Stifel stock chief says.
• 3 cheap stock market sectors to snap up as the Fed delivers a stimulus 'double whammy,' according to BofA.
• Top Wall Street strategists await a strong jobs report to boost low-quality stocks.
• Here's a preview of what Wall Street expects from Tesla's upcoming third-quarter results.

In commodities, bonds, and crypto:

• West Texas Intermediate crude oil slid 1.2% to $67.38 a barrel. Brent crude, the international benchmark, fell 1% to $70.98 a barrel.
• Gold increased 0.62% to $2,675.8 an ounce.
• The 10-year Treasury yield dropped 5 basis points to 3.743%.
• Bitcoin inched 0.3% higher to $63,638.

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