Markets Chilled By 10-Year-Low In US Factory OutputWochit Business
The S&P 500 and Dow suffered their worst tumbles in over a month on Tuesday. Reuters reports the plunge came after data showed U.S. factory activity shrank in September to its weakest in over a decade. Reuters reports the drop is ratcheting up fears the US-China trade war is hobbling the world’s largest economy. This is a bad number, fitting in with the world’s manufacturing recession. I think the market is right to be concerned. Jim Bianco, head of Bianco Research, Chicago A jobs report on Friday is expected to shed further light on U.S. economic strength.