The Dow Jones Industrial Average closed at 26,573.04 on Tuesday with a loss of 343.79 points or -1.28%. The S&P 500 closed at 2,940.25 for a loss of 36.49 points or -1.23%. The Nasdaq Composite closed at 7,908.68 for a loss of 90.65 points or -1.13%. The VIX Volatility Index was higher at 18.39 for a gain of 2.15 points or 13.24%.
Tuesday’s market movers
U.S. indexes started the month down after ending September with positive gains. The market was closed in China for a national holiday. In Hong Kong, one protester was killed by police. In North Korea, officials reported that the country would resume talks on nuclear weapons with the U.S.
In the U.S., investors were watching the ISM Manufacturing Index, which reported its lowest reading since June 2009. The contraction raises concerns over slowing growth in the economy.
Economic reports affecting market trading included the following:
- The ISM Manufacturing PMI decreased to 47.8 in September, falling from 49.1 and missing expectations of 50.1. The ISM Manufacturing Employment Index fell to 46.3 from 47.4. The ISM Manufacturing Prices Index increased to 49.7 from 46.0. The ISM Manufacturing New Orders Index increased to 47.3 from 47.2.
- The Markit Manufacturing PMI increased to 51.1 in September from 50.3.
- Construction spending increased 0.1% in August after no change in July.
- The Federal Reserve’s Evans, Clarida, Bullard and Bowman all gave speeches on Tuesday.
In the S&P 500, the materials, industrial and energy sectors led losses. In the Dow Jones Industrial Average, the following stocks led losses:
- Dow Inc. (DOW, Financial) -3.38%
- 3M (MMM, Financial) -3.35%
- Cisco (CSCO, Financial) -3.32%
- Caterpillar (CAT, Financial) -2.92%
- McDonald's (MCD, Financial) -2.45%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,494.51 for a loss of 28.86 points or -1.89%. The S&P 600 closed at 929.27 for a loss of 18.45 points or -1.95%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,506.21 for a loss of 188.53 points or -1.94%. The Dow Jones U.S. Small-Cap Value Index closed at 9,268.97 for a loss of 182.47 points or -1.93%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,899.99 for a loss of 35.49 points or -1.83%; the S&P 100 at 1,300.66 for a loss of 14.59 points or -1.11%; the Nasdaq 100 at 7,684.14 for a loss of 65.31 points or -0.84%; the Russell 3000 at 1,720.12 for a loss of 22.58 points or -1.30%; the Russell 1000 at 1,623.65 for a loss of 20.53 points or -1.25%; the Wilshire 5000 at 30,012.01 for a loss of 390.40 points or -1.28%; and the Dow Jones U.S. Select Dividend Index at 719.75 for a loss of 9.90 points or -1.36%.
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