Dow Drops 300 Points, US Stocks Reeling As Chinese PMI Disappoints

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Stock market index

US stocks plunged about 2% on Tuesday, the first day of trade for September, as weak Chinese data pressured global markets.

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The Dow Jones industrial average traded about 320 points lower in correction territory, after earlier falling as much as 360.83 points. The Nasdaq Composite wiped out gains for 2015 and struggled to stay out of correction. The S&P 500 is within 1% of correction territory as of this post.

China’s official manufacturing purchasing managers’ index (PMI) edged down to 49.7 in August from 50 in July, while the final Caixin/Markit manufacturing PMI came in at 47.3 in August, the lowest reading since March 2009.

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Comment (1)

  1. Jayro says:

    I guess I am a skeptic of most cliams, on both sides.If we burn a huge quantity of things, and change form of many elements from solids to gasses, it will have some long-term effect on the atmosphere.In 100 years, we’ll know the answer. I do not have any confidence in the cliams of those who are certain the CO_2 has a huge effect. I also have no confidence in those who insist it will have NO effect.My point was that ANY unilateral agreement, or agreement among a group of developed nations, amounts simply to self=flagellation. Fun, if you are into that sort of thing, but don’t make me help you get your masochistic jollies.

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