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NewsBreak: Stocks Stumble on Weak Economic, Trade Worries

Published 10/31/2019, 03:05 PM
Updated 10/31/2019, 03:10 PM
© Reuters.

Investing.com - Stocks were suffering a Halloween slump as trade and economic worries took over markets.

  • The Dow Jones industrials were off 0.91% at 3 PM ET (19:00 GMT). The blue chips had fallen as many as 266 points. The S&P 500 was down 0.66%, and the Nasdaq Composite dropped 0.47%.

  • The Dow was pulled down by weakness in Walgreens Boots Alliance (NASDAQ:WBA), Caterpillar (NYSE:CAT) and 3M (NYSE:MMM). Boeing (NYSE:BA) was off 1.7% and subtracted 35 points from the Dow by itself.

  • Apple (NASDAQ:AAPL), up 1.8% after reporting better-than-expected fourth-quarter results was the Dow leader, adding 28 points to the index. It contributed 13.4 points to the Nasdaq 100 Index. The index, however, was down 0.24%.

  • The slump was set off by a Bloomberg News report suggesting China may well resist signing a comprehensive trade deal. The Chicago Purchasing Managers Index fell 43.2 for October, its lowest level since Dec. 2015. Oil prices also fell, and gold jumped as many investors sought safety.

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