US Stocks end at 3-week low on global growth fears
New York - QNA
US stocks fell to their lowest level in three weeks on Tuesday, as weaker-than-expected manufacturing data in China revived worries about global growth and sent investors scurrying out of the perceived risk of equities.
Major US stock indexes have fallen three of the past four trading days, and the price of US crude oil has declined for three consecutive sessions, losing more than 5% in that period. All S&P 500 sectors fell Tuesday. Tuesday’s declines followed the fall in oil prices, a drop in Chinese manufacturing and a forecast that growth in Europe this year will be weaker than previously expected.
The Dow Jones Industrial Average lost 140.25 points, or 0.8%, to 17750.91. The S&P 500 fell 18.06 points, or 0.9%, to 2063.37. The Nasdaq Composite dropped 54.37 points, or 1.1%, to 4763.22.
Elsewhere, the Stoxx Europe 600 declined 1.7%. Mixed first-quarter earnings results weighed on shares of European banks, while Asian stocks were mixed.