Suddenly bad news led to a bad reaction. The Dow, S&P, and NASDAQ indices all declined in trading today. The economic news today showed retail sales, PPI, capacity utilization/industrial production all come in weaker. Yes, inflation was lower but the weaker data has traders concerned more about a hard(er) landing.
A look at the final numbers are showing:
- Dow Industrial Average -613.9 points or -1.81% at 33296.95
- S&P -62.13 pointer -1.56% at 3928.85
- NASDAQ index -138.09 or -1.24% at 10957.02
- Russell 2000 -29.92 or -1.59% at 1854.36
All the 30 Dow stocks fell led by:
- Honeywell -3.77%
- IBM -3.33%
- 3M -3.06%
- J.P. Morgan -3.02%
- Coca-Cola -3.02%
The best of the worst was:
- Goldman Sachs -0.26%
- Apple -0.54%
- Travelers -0.75%
All 11 sectors of the S&P index fell. The worst performer were:
- Consumer Staples -2.65%
- Utilities -2.41%
- Industrials -1.84%
- Financials -1.84%
- Energy -1.77%
