NewsBreak: Wall Street Drubbing Continues; Dow Tumbles 450

Oct 02, 2019

Back Stock Market

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%.

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