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Indonesia News Portal for Traders | Financial & Business Updates

3 September 2024 20:34  |

Dow falls more than 100 points as September trading begins

Stocks declined Tuesday as traders braced for a potentially tough month ahead after a strong but volatile August.

The Dow Jones Industrial Average traded 192 points lower, or 0.5%. The S&P 500 slid 0.7%, and the Nasdaq Composite dropped 0.9%. U.S. markets were closed Monday due to the Labor Day holiday.

The major averages are coming off a winning session, securing a gain for major averages in the month. Notably, the S&P 500 clinched its fourth straight winning month.

Those moves came after a steep sell-off to begin the month. Concern over the U.S. economy falling into a recession, along with the unwinding of a popular hedge fund trade involving the Japanese yen, sent stocks tumbling in early August. At one point, the S&P 500 was down more than 7% for the month before recovering.

Source: CNBC

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