Economically sensitive transports underperformed the broader market.
“There is the uncertainty surrounding Pelosi’s trip to Taiwan and there’s additional data, regarding economic softness,” said Sam Stovall, chief investment strategist of CFRA Research in New York. “Regarding recession, it’s not a question of ‘if’ but ‘when and how deep.'” The Dow Jones Industrial Average fell 402.23 points, or 1.23%, to 32,396.17, the S&P 500 lost 27.44 points, or 0.67%, to 4,091.19 and the Nasdaq Composite dropped 20.22 points, or 0.16%, to 12,348.76.The pan-European STOXX 600 index lost 0.32% and MSCI’s gauge of stocks across the globe shed 0.93%.
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