Dow tumbles over 300 pts after weak manufacturing data

Tuesday, 01. October 2019 22:00

Trading on Wall Street finished with sharp losses on Tuesday under pressure from disappointing manufacturing data released earlier in the day.

The Institute for Supply Management reported manufacturing contracted to the lowest level in over 10 years, adding to fears of an economic slowdown. President Donald Trump blamed the Federal Reserve for the weak data.

The Dow Jones dropped 1.28% or 343 points led lower by 3M, Dow, and Cisco. Meanwhile, the S&P 500 sank 1.23% as E-Trade Financial Corporation plummeted over 16%. The Nasdaq 100 dipped 0.84%; the losses were led by Mylan, Fastenal, and Xilinx, all tanking over 4%.

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Author:
Breaking the News / JC