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NewsBreak: Wall Street Drubbing Continues; Dow Tumbles 450

Published 10/02/2019, 10:51 AM
Updated 10/02/2019, 10:56 AM
© Reuters.

Investing.com - Sharp selling in the stock market continued in morning trading Wednesday, with the major indexes moving to session lows as concerns about the U.S. economy remained following a weak report on private payrolls.

  • The Dow Jones Industrial Average fell 450 points, or 1.7%. Johnson & Johnson (NYSE:JNJ) and UnitedHealth Group (NYSE:UNH) were the only components in the green as money went to defensive names.

  • The S&P 500 fell below 2,900, a level it hasn’t closed below since August, and was down 1.6%. The Nasdaq Composite was off 1.6%.

  • Crude oil futures also sank as the government reported a bigger-than-expected rise in inventories. Interest rates were down, with the 10-Year Treasury yield slipping to 1.608%.

    Latest comments

    stock will open at monday with high down dip.....
    market go up and down..goverment makes lots of money. Fake news is a necessary evil..
    yep
    It will be interesting to see what happens in the next couple days.  A true realization that the market assets have been inflated by monetary policy and hype?
    so, these is America Great Again????
    Yes! America is great! The markets need a breather from time to time to stay healthy. Where are you from?
    Democrats could also be bringing in more uncertainty into the markets which is good for them and plays well into the Chinese hands as well.
    I laugh… US all fake data should drop more
    Asset shopping is the only shopping where people think it’s good to pay more. Personally, i like low price no matter what type of shopping.
    Trump is so naive that US can decoupled from china withiut suffering . Trump better wake up before its more severe .
    That's it I'm holding onto treasuries for now so much political ***happening
    Where do you come from?
    Dallas Texas
    Who cares?!
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