Stocks took another beating Monday as concerns about global
growth and continued deterioration in emerging markets triggered
strong selling across the market, enough to drive the Dow
Industrials to an eight-week low. Weak Chinese and U.K.
manufacturing data, followed by a steeper-than-expected decline in
the U.S. Institute for Supply Management manufacturing index,
triggered a selling frenzy in equities. Investors instead poured
into the relative safe-haven of precious metals and U.S. government
With the exception of Pfizer (
), driven higher on breast cancer treatment results, nearly every
component of the Dow Jones Industrial Average was down by at least
1%. As a result, the index closed below its 200-day moving average
of 15,465, while the Nasdaq slipped under key support at 4,000.
Utility stocks outperformed other sectors thanks to falling
Treasury yields. The yield on the benchmark 10-year note fell to a
three-month low of 2.59%.
Here's where the markets stand at the close:
Dow Jones Industrial Average was down 326 (-2.1%) at
S&P 500 was down 40.70 (-2.3%) at 1,741.89
Nasdaq Composite was down 106 (-2.6%) at 3,996.96
FTSE 100 was down 0.69%
Nikkei 225 was down 1.98%
Hang Seng Index down 0.48%
Shanghai China Composite Index was down 0.27%
KTOS Its Defense & Rocket Support Service unit has won a
5-year contract from the U.S. Navy
BEAT Paid $16 million for the acquisition of Mednet Healthcare
Techologies after winning its patent infringement lawsuit the
KOOL TotipotentRX and Fortis Healthcare in New Delhi have
performed the 20th pediatric bone marrow transplant using
GOGO, Faces class-action suit alleging in-flight internet
RSOL Files $200 million shelf registration
STSI More negative FDA attention towards anti-inflammatory
ICLD, Acquired RentVM, Inc.
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