U.S. stocks slump as fears about global growth resurface

U.S. stocks opened firmly lower Tuesday as worries about the global economy flared up after the world’s second-largest economy, China, released weaker-than-expected manufacturing data. An interest-rate cut in Australia also underscored a downbeat tone emanating from Asia, which was buffeting global stock markets. The Dow Jones Industrial Average was off 146 points, or 0.8%, at 17,743, while the S&P 500 sank 16 points, or 0.8%, to 2,065. Meanwhile, the tech-laden Nasdaq Composite index , which snapped a seven-session losing streak on Monday, was off 35 points, or 0.7%, at 4,783.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Leave a Reply