Stock market today: Wall Street tumbles on worries about the economy, and Dow drops more than 600

ByNEW YORK --tumbled Tuesday to their worst day since an early August sell-off, as a week full of updates on the economy got off to a discouragingly weak start.

"Demand remains subdued, as companies show an unwillingness to invest in capital and inventory due to current federal monetary policy and election uncertainty," said Timothy Fiore, chair of the Institute for Supply Management's manufacturing business survey committee. Other reports due later this week could show how much help the economy needs, including updates on the number of job openings U.S. employers were advertising at the end of July and how strong U.S. services businesses grew last month. The week's highlight will likely arrive on Friday, when a report will show how many jobs U.S. employers created during August.

But if Friday's report is weaker, it could drive the Fed to deliver an outsized cut of half a percentage point from the federal funds rate's current range of 5.25% to 5.50%, Mericle said. Nippon Steel also reiterated that it expects the transaction to close by the end of this year, despite ongoing political and labor opposition.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Stock market today: Wall Street holds steady following its best week of the yearU.S. stocks are holding steady as Wall Street’s roller coaster of a summer levels out a bit. The S&P 500 was 0.2% higher in early Monday trading, coming off its best week of the year. The Dow Jones Industrial Average rose 125 points, and the Nasdaq composite added 0.1%.
Fonte: AP - 🏆 728. / 51 Consulte Mais informação »

Nvidia stock slips even after earnings top Wall Street estimates, demand for AI chips surgesNvidia may have exceeded Wall Street estimates as its profit jumped — buffeted by the chipmaking dominance that has cemented Nvidia’s place as the poster child of the artificial intelligence boom — but investors seemed less than impressed.
Fonte: KTVU - 🏆 465. / 53 Consulte Mais informação »