Stock market today: Dow, S&P 500, Nasdaq slide for 3rd day as Wall Street slump continues

Market Overview - US stocks experienced a decline for the third consecutive session, influenced by an unexpected drop in jobless claims and a significant upgrade in GDP growth, complicating the outlook for potential rate cuts by the Federal Reserve [1][2] - The Dow Jones Industrial Average fell by 0.4%, the S&P 500 decreased by approximately 0.5%, and the Nasdaq Composite also dropped around 0.5%, with notable losses in major tech stocks such as Oracle and Tesla [1] Labor Market and Economic Indicators - Jobless claims data indicated a positive trend in the labor market, with the number of Americans filing for unemployment decreasing to 218,000 for the week ending September 20, down from 232,000 previously, while continuing claims slightly fell to 1.92 million [3] - The US second quarter GDP growth was reported at an annualized rate of 3.8%, rebounding from a 0.6% decline in Q1 and surpassing estimates of 3.3% [3] Inflation and Corporate Earnings - The upcoming release of the Personal Consumption Expenditures (PCE) index, the Federal Reserve's preferred inflation gauge, is anticipated to show easing price pressures, which could influence future rate policy [4] - Costco is expected to report its quarterly results, with investors anticipating a significant increase in sales as consumers seek deals amid economic uncertainty [4]