The U.S. manufacturing sector shrank in August, worrying investors.
Topline
: Markets fell sharply Tuesday as a new round of tariffs on both U.S. and Chinese imports took effect and data showed the U.S. manufacturing sector shrank last month.The S&P 500 fell 20 points, or 0.69%.Tariffs imposed by both the U.S. and China went into effect over the weekend as the trade war rages on, worrying investors as new data released Tuesday showed that U.S. manufacturing contracted in August for the first time in three years.
According to the Manufacturing Business Survey from the Institute for Supply Management, the Purchasing Managers’ Index unexpectedly dropped to 49.1% in August, a decrease of 2.1% from July. The drop can be attributed mostly to trade, according to theGlobally, investors are also worried about the uncertainty surrounding Brexit as the U.K. Parliament falls into chaos.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
What to watch today: Dow set to fall, China tariffs hit, and Dorian slams BahamasThese are the stocks posting the largest moves before the bell.
Read more »
Iran says it closes gaps with France in talks on nuclear dealIran and France's views have become closer over Tehran's nuclear deal,...
Read more »
Dow futures fall more than 150 points after new US-China trade tariffs take effectU.S. stock index futures were lower Tuesday, after the world's two largest economies began imposing new tariffs on one another's goods.
Read more »
Texas Whataburger closes after rodent is caught on camera jumping into fryer as customers scream: 'It went in the grease'Footage of the rodent has gone viral on Facebook, where it has attracted more than 1.6 million views. Whataburger confirmed the store has since been 'cleaned and sanitized.'
Read more »
Stocks drop to begin September amid new US-China tariffs, weak US manufacturing dataThe stock market finished in the red on the first trading day of September. The Dow dropped by 283 points as new China tariffs took effect this weekend and weak U.S. manufacturing data was reported. The S&P 500 lost 0.7% while the Nasdaq fell 1.1%.
Read more »
Stocks end lower as U.S.-China tariffs kick in, manufacturing data disappointsU.S. stocks kicked off September on a down note Tuesday as investors returned from a three-day weekend, with pressure attributed to the implementation of new...
Read more »