Earning Concerns, Weak Data and Ebola Fears Send U.S. Stocks Sliding
ICM Brokers | Oct 02, 2014 03:20AM ET
Dow Jones
U.S. stocks fell on Wednesday on concerns third-quarter earnings may disappoint, while soft U.S. data also pushed stock prices lower. U.S. stocks drop on earning concerns; Dow falls 1.40% Earnings concerns, weak data and Ebola fears send U.S. stocks sliding At the close of U.S. trading, the Dow 30 fell 1.40%. Earnings season is fast approaching, and fears that soft European and Chinese economies may affect U.S. top lines sent stock prices falling on Wednesday, especially on concerns that the Federal Reserve will wind up its monthly bond-buying program later this month. Fed stimulus tools such as asset purchases aim to suppress long-term interest rates, which makes stocks attractive while such programs are in place. A mixed bag of economic indicators in the U.S. took its toll on stock prices as well. The Institute of Supply Management reported earlier that its manufacturing index fell to 56.6 in September from 59.0 in August. Economists had expected the index to decline less and come in at 58.5.
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