Close X
Sunday, November 24, 2024
ADVT 
International

US Stocks Plunge Following Global Rout

Darpan News Desk IANS, 01 Sep, 2015 11:31 AM
  • US Stocks Plunge Following Global Rout
US stocks extended losses in the morning session Tuesday as a renewed broad-based sell-off around the world rattled nervous investors.
 
By midday, the Dow Jones Industrial Average slumped 314.56 points (1.90 percent), to 16,213.47. The S&P 500 dropped 36.43 points (1.85 percent), to 1,935.75. The Nasdaq Composite Index shed 67.98 points (1.42 percent), to 4,708.52.
 
Tokyo equities dived with its benchmark Nikkei stocks index plunging 3.84 percent on Tuesday amid weak performances in other stocks markets.
 
Chinese shares slumped for a second day on Tuesday on weak economic data, with the benchmark Shanghai Composite Index dipping 1.23 percent to end at 3,166.62 points.
 
China's manufacturing purchasing managers' index (PMI) came in at 49.7 in August, down from 50 for July and the lowest since August 2012, according to official data released Tuesday morning.
 
European stocks also traded sharply lower as the heavy falls across the board weighed on market sentiment.
 
Adding more pessimism to the market, US economic data came out negative. The US August manufacturing PMI registered 51.1 percent, missing market consensus of 52.8 percent and a decrease of 1.6 percentage points from the July reading of 52.7 percent, said the Institute Supply Management (ISM) Tuesday.
 
Meanwhile, the Department of Commerce announced on Tuesday that construction spending during July 2015 was estimated at a seasonally adjusted annual rate of 1,083.4 billion US dollars, 0. 7 percent above the revised June estimate, slightly below market expectations.
 
On Monday, US stocks declined as recent economic data fueled speculations that the Federal Reserve would begin raising interest rates from September.

MORE International ARTICLES

Meet Kiran Gandhi, Indian-Origin Harvard Graduate Who Ignited Global Awareness On Menstruation

Meet Kiran Gandhi, Indian-Origin Harvard Graduate Who Ignited Global Awareness On Menstruation
Indian-origin Harvard Business School graduate and a professional drummer, said the silence about the subject has to end, and she was happy to have started “a global conversation online” on periods.

Meet Kiran Gandhi, Indian-Origin Harvard Graduate Who Ignited Global Awareness On Menstruation

Greece's PM Quits, Calls Early Polls

Greece's Prime Minister Alexis Tsipras on Thursday announced he is resigning and has called an early election.

Greece's PM Quits, Calls Early Polls

Indian American Manjit Sappal Appointed Police Chief Of California's Martinez City

Indian American Manjit Sappal Appointed Police Chief Of California's Martinez City
Sappal will be paid a base salary of $175,000 a year

Indian American Manjit Sappal Appointed Police Chief Of California's Martinez City

Indian Man Shivraj Singh Dabi Taken Off FBI's Most Wanted List

Indian Man Shivraj Singh Dabi Taken Off FBI's Most Wanted List
Dabi, based in Madhya Pradesh, said in a statement that an American court had granted permission to remove the charge of "Unlawful Flight to Avoid Prosecution" and added that this order makes it clear that he is no longer on the FBI wanted list

Indian Man Shivraj Singh Dabi Taken Off FBI's Most Wanted List

South Carolina Governor Nikki Haley Appoints Indian American Swati S. Patel As Chief Of Staff

South Carolina Governor Nikki Haley Appoints Indian American Swati S. Patel As Chief Of Staff
Swati S. Patel, who served as chief legal counsel for the Indian-origin governor since 2011, is a veteran of two gubernatorial administrations.

South Carolina Governor Nikki Haley Appoints Indian American Swati S. Patel As Chief Of Staff

Court Records: Appeal Denied, No Bail For Canadian Diplomat's Teen Son Charged With Murder

Court Records: Appeal Denied, No Bail For Canadian Diplomat's Teen Son Charged With Murder
A Florida appeals court has refused to release on bail a Canadian diplomat's teenage son while the youth awaits trial on a murder charge.

Court Records: Appeal Denied, No Bail For Canadian Diplomat's Teen Son Charged With Murder