NEW YORK (AP) — Nearly everything on Wall Street tumbled as fear about a slowing U.S. economy worsened and set off another sell-off for financial markets around the world. The S&P 500 sank 3% Monday for its worst day in nearly two years. The Dow Jones Industrial Average dropped more than 1,000 points, and the Nasdaq composite slid 3.4%. That followed a 12.4% plunge for Japan’s Nikkei 225, its worst since 1987. Treasury yields pared their losses after a report showed U.S. services businesses are continuing to grow. But worries are still high after Friday’s report showing U.S. employers pulled back on hiring last month by more than expected.
Stocks Tumble Amid Fears Of A Slowing Economy
August 5, 2024 9:59 am