Why Uber Stock Was Down Today
Shares of Uber (NYSE: UBER) were falling today, trending with a broad sell-off in the market as stronger-than-expected economic data triggered expectations for more aggressive rate hikes next year from the Federal Reserve.
As a transportation company, Uber's business is closely connected to the global economy, and the company is also dealing with its own labor challenges after drivers in New York City went on strike earlier this week.
As of 11:27 a.m. ET, Uber stock was down 3.8%, while the Nasdaq had lost 2.6%.
Source Fool.com
