S&p, Financial services company

New York, Sep 24 US stocks saw the return of heavy sell-off amid weakening of macroeconomic indicators and overshadowed recovery outlook.On Wednesday, the Dow Jones Industrial Average lost 525.05 points, or 1.92 per cent, to 26,763.13. The S&P 500 dropped 78.65 points, or 2.37 per cent, to 3,236.92. The Nasdaq Composite Index shed 330.65 points, or 3.02 per cent, to 10,632.99, Xinhua news agency reported.All of the 11 sectors under S&P 500 suffered losses with energy, technology and materials sectors down 4.55 per cent, 3.21 per cent and 2.93 per cent, respectively.US-listed Chinese companies most traded lower, with nine of the top 10 stocks by weight in the S&P US Listed China 50 index ending the day on a downbeat note.Flash US Composite Output Index dipped to 54.4 in September from 54.6 in the previous month, according to data issued by IHS Markit on Wednesday.The month-on-month declines of flash Composite Purchasing Managers' Index in September in the euro zone and the United Kingdom also weighed on market sentiment."The question now turns to whether the economy's strong performance can be sustained into the fourth quarter... Risks therefore seem tilted to the downside for the coming months, as businesses await clarity with respect to both the path of the pandemic and the election," said Chris Williamson, chief business economist at IHS Markit.Fed Chairman Jerome Powell on Wednesday urged Congress to provide additional fiscal support for economic recovery.However, the odds of a broader bipartisan breakthrough on renewed fiscal stimulus have narrowed as the US Senate gears up for a fractious Supreme Court nomination just weeks ahead of the presidential election, UBS Global Wealth Management's Chief Investment Officer Mark Haefele said Wednesday in a note.( With inputs from IANS )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

S&pFOLLOW

S&p, Latest News

Mumbai, Oct 9 Despite a status quo in key lending rates, the Indian equity indices remained in the ... ...

Mumbai, Oct 8 Indian equity markets rose for the sixth consecutive session on Thursday as buying was sustained ... ...

New York, Oct 3 US stock markets slumped but regained some losses triggered by news that President Donald ... ...

US President Donald Trump will temporarily postpone or move to virtual format for all previously scheduled campaign events after he tested positive for COVID-19, Bill Stepien, his campaign manager said on Friday (local time). ...

Normalisation from Covid-19 economic disruption is expected to take longer in India, Japan, Australia and most of southeast Asia, according to a new report by S&P Global Ratings titled 'Asia Pacific's Recovery: The Hard Work Begins.' ...

New Delhi, Sep 25 Global ratings agency S&P affirmed India's unsolicited foreign and local currency sovereign ratings with ... ...

COVID-19 and the oil price shock of 2020 are taking a heavy toll on global banks, S&P Global Ratings said on Thursday adding that it will be difficult for them to return to pre-crisis levels in the next three years. ...

New York, Sep 24 US stocks saw the return of heavy sell-off amid weakening of macroeconomic indicators and ... ...