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US Stocks Sink as S&P 500 Falls to Its First Loss in 7 Days
- The S&P 500 fell 0.3% early on Tuesday morning, marking its first decline in seven days as U.S. Stock indexes drifted lower at 9:35 a.m.
- This drop followed Moody's downgrade of the U.S. Government credit rating due to concerns about spiraling debt, creating jitters in the market.
- Stocks in the travel sector suffered some of the largest losses amid worries about reduced holiday spending, while Home Depot shares rose 1.3% on solid revenue despite slightly missing profit forecasts.
- Treasury yields edged higher, the dollar remained stable, and China's central bank cut loan prime rates for the first time in seven months, with investors hoping for further stimulus.
- Economists remain concerned that ongoing U.S. Tariffs could trigger a recession, which might be deeper and longer if fiscal support weakens, though rate cuts in China and Australia suggest easing global pressures.
66 Articles
66 Articles
Uncertainty Returned to Wall Street and the Shares Closed with Losses
The three main indices closed with their biggest daily losses in a month. Small capitalization stocks also fell sharply, and the Russell 2000 index recorded its highest daily decline since April 10
U.S. stocks sink as S&P 500 falls to its first loss in 7 days
U.S. stocks fell as momentum slowed for Wall Street after it rallied from a deep hole nearly all the way back to its all-time high set earlier this year. The S&P 500 lost 0.4% Tuesday for its first drop in…
Chicago Tribune
Independent EspañolWall Street Closes Down; S&P 500 Records Its First Downfall in Seven Days
By STAN CHOE NEW YORK (AP) — Share prices fell on Tuesday on the New York Stock Exchange, as Wall Street lost momentum after recovering from a deep bump. The S&P 500 dropped 23,14 points, or 0.4%, to 5,940.46, for its first decline in seven days. The Dow Jones industrial average dropped 114.83 units, or 0.3%, to close at 42,677,24, and the Nasdaq compound dropped 72.75 points, or 0.4%, and stood at 19,142,71.
Sydney Morning Herald
ASX rises amid bets for more rate cuts; CBA gains, Mayne tanks
The Australian sharemarket extended its gains on Wednesday amid optimism for more rate cuts after the Reserve Bank lowered its benchmark interest rate by a quarter of percentage point on Tuesday.
Daily Journal
US stocks drift lower as S&P 500 flirts with its first drop in 7 days
U.S. stock indexes are drifting lower as momentum slows for Wall Street after it rallied from a deep hole nearly all the way back to its all-time high set earlier this year. The S&P 500 fell 0.3% Tuesday and may…
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