Back
5 Jun 2013
Wall Street collapses on bad US data
FXstreet.com (San Francisco) - The US stocks market closed Wednesday sharply lower and even weaken into a close as investors' confidence was hurt by weaker than expected ISM non-manufacturing data and specially its employment component.
The Fed's Beige Book also showed dark clouds as the report said the growth was modest to moderate across most of the US in the last month. However, the employment increased in several districts and the real estate and construction expanded at a moderate to strong pace in most Fed districts. The Dow and Nasdaq performed its worst single day drop in almost two months.
The Dow Jones collapsed 216.95 points or 1.43% to 14,960.59. The S&P 500 declined 22.48 points or 1.38% to 1,608.90. And the Nasdaq Composite eased 43.78 points or 1.27% to 3,401.48.
The Fed's Beige Book also showed dark clouds as the report said the growth was modest to moderate across most of the US in the last month. However, the employment increased in several districts and the real estate and construction expanded at a moderate to strong pace in most Fed districts. The Dow and Nasdaq performed its worst single day drop in almost two months.
The Dow Jones collapsed 216.95 points or 1.43% to 14,960.59. The S&P 500 declined 22.48 points or 1.38% to 1,608.90. And the Nasdaq Composite eased 43.78 points or 1.27% to 3,401.48.