On Tuesday, September 3, was a fairly bad day for the American markets, as the marquee indices on Wall Street ended the day with colossal losses.
This development is largely being attributed to the fears of an economic slowdown, in addition to the revised data that recently showed that the number of jobs created in the US was lower than what was initially understood.
In addition, fears of a larger economic slowdown continue to plague the air on Wall Street.
The oldest of the marquee indices, the Dow Jones Industrial, started the day at 41,489.67; from there, the decline in the intraday trade was consistent. The Dow Jones ended the day with a drop of a mammoth 1.51 per cent or 626.15 points. The index closed for the day's trade on 40,936.93 points.
As we move to the S&P 500, this index, according to reports, had the worst start to the month of September in close to a decade, since 2015. The index had a story similar to Dow Jones; however, the S&P 500 closed with greater losses than the former. The index declined by 2.12 per cent or 119.47 points. This led the index to close for the day at 5,528.93 points.
When we come to the tech-heavy Nasdaq Composite Index, the story was no different, as the index closed with a decline of over 3 per cent. This was largely driven by a slump in the tech, particularly chip and AI companies like Nvidia. The index, which opened at 17,585.45, dropped significantly, diminishing by 3.26 per cent or 577.33 points. The index ended the day at 17,136.30 points.
The Russell 2000 also closed for the day's proceedings in red with a decline of over 3 per cent. This index, which saw a steady decline throughout the day's trade, eventually closed with losses of 3.09 per cent or 68.42 points. The index closed at 2,149.21 points.
Meanwhile, crude oil prices also slumped significantly. In fact, the West Texas Index or WTI, prices also dropped by a colossal 5.24 per cent or USD 3.86, declining to USD 69.79 per barrel.
In addition, the Brent Crude also dropped in value. The benchmark dropped by 0.69 per cent or USD 0.51 per barrel.
