🔴 Uber is trading 4% down today as rate-hike concerns weigh on markets

Uber is trading 4% down at $72.72 amid a broad risk-off session.

• U.S. stocks are lower after markets reopened from the Labor Day holiday: the Dow is down 1.16%, while the S&P 500 and Nasdaq are each down 0.43%.
• Investors are reacting to higher oil prices, geopolitical tensions, tariffs, and stronger-than-expected jobs data that increased rate-hike concerns.
• Uber COO’s purchase of 70,000 shares on September 4 is supportive but does not explain today’s decline.