US stocks tumble on global growth fears, Volkswagen

GMT 20:48 2015 Tuesday ,22 September

Arab Today, arab today US stocks tumble on global growth fears, Volkswagen

Wall Street stocks tumbled
New York - AFP

Wall Street stocks tumbled Tuesday, joining European equities in falling on worries about global growth and the burgeoning Volkswagen emissions scandal.

At the closing bell, the Dow Jones Industrial Average was down 182.53 points (1.11 percent) at 16,327.66.

The broad-based S&P 500 fell 24.42 (1.24 percent) to 1,942.55, while the tech-rich Nasdaq Composite Index sank 72.23 (1.50 percent) to 4,756.72.

Analysts cited rising worries about global growth following weaker Chinese economic data and dropping prices for copper and other key commodities.

US auto giants Ford and General Motors lost 2.8 percent and 1.9 percent, respectively, as shares of global automakers fell due to the Volkswagen scandal.


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