Arab Today, arab today us stocks plunge amid mixed economic data global growth concerns
Last Updated : GMT 19:06:35
Arab Today, arab today
Arab Today, arab today

US stocks plunge amid mixed economic data, global growth concerns

Arab Today, arab today

Arab Today, arab today US stocks plunge amid mixed economic data, global growth concerns

US stocks plunge
New Yourk - XINHUA

 U.S. stocks sank Wednesday to kick off the fourth quarter amid an array of mixed economic data and concerns over the eurozone economy.
The Dow Jones Industrial Average shed 238.19 points, or 1.40 percent, to 16,804.71. The S&P 500 slumped 26.13 points, or 1.32 percent, to 1,946.16. The Nasdaq Composite Index plunged 71.31 points, or 1.59 percent, to 4,422.08.
Calling the selloff a "perfect storm," Mark Otto, Partner/ Designated Market Maker at J. Streicher & Co., told Xinhua that the decline was the result of "global growth worries being amplified by macroeconomic data, geopolitical turmoil and speculation on Fed policy regarding interest rates."
"The selloff wasn't chaotic though," Otto said, noting that the CBOE Volatility Index, often referred to as Wall Street's fear gauge, was down mildly most of the day and ended up just 2.45 percent at the close to 16.71.
U.S. stocks reacted little to better-than-expected jobs growth in the private sector, as investors were awaiting the Labor Department's nonfarm payroll report for September due on Friday.
U.S. private sector employment increased by 213,000 jobs in September, marking the sixth straight month of employment gains above 200,000, according to a report released Wednesday by payrolls processor ADP.
Economic activity in the U.S. manufacturing sector continued to expand in September, but the growth pace was slower.
The Institute for Supply Management said its Purchasing Managers' Index (PMI) registered 56.6 in September, down from 59 in August, missing analysts' estimates.
According to financial data firm Markit, its final reading of the U.S. Manufacturing PMI declined slightly to 57.5 in September from 57.9 in August.
U.S. construction spending unexpectedly fell 0.8 percent in August, said the Commerce Department. Analysts had forecast a 0.5- percent rise.
Concerns about the eurozone economy added to the woes on the U. S. market.
Separate reports from Markit showed the eurozone manufacturing sector slowed closer to stagnation in September, with the final eurozone manufacturing PMI falling to a 14-month low of 50.3.
While the final PMI reading for Germany, the region's largest economy, slipped to a 15-month low of 49.9, below the 50 dividing line for the first time since June 2013, said Markit. A reading above 50 suggests an expansion while a register below the mark means a contraction.
On Tuesday, U.S. stocks wrapped up the September trading lower, but logging gains for the third quarter.
In other markets, the U.S. dollar rose slightly against most major currencies Wednesday. In late New York trading, the euro fell to 1.2609 dollars from 1.2631 dollars in the previous session. The greenback bought 109.19 Japanese yen, lower than 109.70 yen of the previous session.
Crude prices fell after paring early gains. Light, sweet crude for November delivery moved down 0.43 dollars to settle at 90.73 dollars a barrel on the New York Mercantile Exchange, while Brent crude for November delivery lost 0.51 dollars to close at 94.16 dollars a barrel.
Gold futures on the COMEX division of the New York Mercantile Exchange rose as investors shunned riskier assets like stocks but turned to gold as a safe haven.
The most active gold contract for December delivery rose 3.9 dollars, or 0.32 percent, to settle at 1,215.5 dollars per ounce.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us stocks plunge amid mixed economic data global growth concerns Arab Today, arab today us stocks plunge amid mixed economic data global growth concerns

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us stocks plunge amid mixed economic data global growth concerns Arab Today, arab today us stocks plunge amid mixed economic data global growth concerns

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Sheraton Grand Hotel reveals its deals

GMT 12:20 2017 Monday ,25 September

Sheraton Grand Hotel reveals its deals
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iraq Kurds in historic independence vote

GMT 15:20 2017 Monday ,25 September

Iraq Kurds in historic independence vote
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 11:11 2017 Sunday ,24 September

The dark side of new tourism hope

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday