Stock Losses Accelerate on Wall Street

Dow ends day down 494
By Newser Editors and Wire Services
Posted Oct 2, 2019 3:00 PM CDT
Trader Gregory Rowe works on the floor of the New York Stock Exchange, Wednesday, Oct. 2, 2019.   (AP Photo/Richard Drew)

(Newser) – Stocks tumbled again as investors became more worried that worsening trade tensions and other factors could further weaken the global economy, the AP reports. The Dow Jones Industrial Average lost almost 500 points Wednesday, its second big drop in a row. The latest bout of selling followed a report showing hiring by US companies slowed more than expected last month, particularly in mining and manufacturing. A day earlier, markets were shaken by the weakest reading on US manufacturing growth in a decade. The S&P 500 fell 52 points, or 1.8%, to 2,887. The Dow gave up 494 points, or 1.9%, to 26,078. The Nasdaq fell 123 points, or 1.6%, to 7,785. Bond prices rose as investors searched for safety. The yield on the 10-year Treasury fell to 1.60%. (Read more stock market stories.)

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