Australia  

Celebrating 10 Years of Trusted News Discovery
One News Page
> > >

Wall Street plunges on economic worries

Video Credit: Reuters Studio - Duration: 01:07s - Published < > Embed
Wall Street plunges on economic worries

Wall Street plunges on economic worries

The Dow shed 494 points as Wall Street's main indexes suffered their sharpest one-day declines in nearly six weeks Wednesday.

Fred Katayama reports.

0
shares
ShareTweetSavePostSend
 

Wall Street plunges on economic worries

The Dow lost nearly 500 points Wednesday as the main indexes suffered their sharpest one-day declines in nearly six weeks.

Investors grew increasingly concerned about an economic slowdown stemming from the trade war after a report showed hiring by private employers slowed last month.

Stocks fell across the board, sending the S&P 500 down 1.8%.

It and the Dow fell below key technical levels that could presage further losses.

Phoenix Financial Services chief market analyst, Wayne Kaufman: SOUNDBITE: PHOENIX FINANCIAL SERVICES CHIEF MARKET ANALYST, WAYNE KAUFMAN (ENGLISH) SAYING: "These are panic levels.

This is so far what we call a 90% down day." Shares of Ford dropped.

The carmaker's quarterly auto sales fell about 5% in the U.S. That also pulled down GM's stock.

Activision Blizzard shares fell.

Bernstein downgraded the videogame maker's shares to "underperform" from "market perform," saying the stock is overpriced.

Johnson & Johnson was one of only two Dow stocks to finish in the black.

The drugmaker agreed to pay $20.4 million to settle opioid claims by two Ohio counties, allowing it to avoid an upcoming federal trial.




You Might Like


Tweets about this

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.