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By Staff Reporters
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The S&P 500 dropped to a five-week low as weaker-than-expected Chinese data and stronger-than-expected U.S. retail sales fueled concerns about growth and inflation.
Here is where the major benchmarks ended:
- The S&P 500 Index was down 51.86 points (1.2%) at 4,437.86; the Dow Jones Industrial Average (DJIA) was down 361.24 points (1.0%) at 34,946.39; the NASDAQ Composite was down 157.28 points (1.1%) at 13,631.05.
- The 10-year Treasury note yield (TNX) was up about 3 basis points at 4.217%.
- CBOE’s Volatility Index (VIX) was up 1.60 at 16.42.
Financials were among the weakest market sectors, with the KBW Regional Banking Index (KRX) dropping over 3% to a four-week low.
Energy shares were also under pressure after crude oil futures fell to a two-week closing low.
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Stock spotlight: Tesla stock needs a recharge after falling more than 20% from its July peak. Investors are peeved with Tesla’s extended price cuts in China and its plan to release lower-range Model X and Model S vehicles that are $10,000 cheaper than the standard versions.
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Alternative Investments, Funding Basics, Investing | Tagged: CBOE, DJIA, dollar, DOW, energy, KRX, NASDAQ, oil, ruble, S&P 500, Tesla, VIX |
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