1st Ld-Writethru: U.S. stocks tumble amid recovery concerns
Monday, August 30, 2021 4:27 PM

Related Stories



NEW YORK, Aug. 30, 2010 (Xinhua News Agency) -- The U.S. stocks fell across the board on Monday as fear about the health of the economy returned to the market.

All major indexes shed more than one percent, with Dow average losing more than 140 points. Cautious trading dominated the market and drove money to bond and other safer investments.

The Commerce Department reported on Monday that personal spending rose 0.4 percent in July, the biggest jump in four months. Although the reading was higher than analysts' expectation, it failed to boost the market as investors were cautious ahead of the key monthly employment data due out on Friday.

Meanwhile, personal income rose 0.2 percent last month, below the 0.3-percent growth rate economists had expected.

Monday's move came after a strong rally on Friday after Federal Reserve Chairman Ben Bernanke said the central bank would take actions if the economy deteriorates significantly.

The Dow Jones industrial average fell 140.92 points, or 1.39 percent, to 10,009.73. The Standard & Poor's 500 index lost 15.67 points, or 1.47 percent, to 1,048.92 and the Nasdaq tumbled 33.66 points, or 1.56 percent, to 2,119.97.

 

Sponsors

Symbol :

Advertisement

Market news:

  • Stocks In Focus: SKS, DE, MMM Aug 31, 2021 08:21 AM

    Shares of Saks Inc. (NYSE: SKS) jumped more that 17% in pre-market trading on Tuesday after U.K.'s Daily Mail newspaper reported that a private equity consortium, comprised of U.S. and U.K. players, is looking to make a bid for the company.

  • Notable Earnings After Tuesday's Close: ARAY, APSG, ABM, CCUR, DAC Aug 31, 2021 07:25 AM

    Accuray Incorporated (NASDAQ: ARAY) is scheduled to release fiscal fourth-quarter earnings after the closing bell on Tuesday, August 31, 2010.

  • After-Hours Update: ALIM, HPQ Aug 30, 2021 07:44 PM

    Alimera Sciences, Inc., (NASDAQ: ALIM) announced late Monday that the company's New Drug Application (NDA) for Iluvien(R) (fluocinolone acetonide intravitreal insert) has been accepted for filing and granted Priority Review status by the U.S. Food and Drug Administration.

  • Earnings Roundup: DCI, WINN, SEED Aug 30, 2021 07:20 PM

    Donaldson Co. (NYSE: DCI) said Monday that its fiscal fourth-quarter net income surged, aided by higher sales and improved margins.

  • ETF Update: FAZ, FAS, SPY Aug 30, 2021 06:57 PM

    Direxion Daily Financial Bear 3X Shares (NYSEArca: FAZ) was one of the biggest gainers among the ETFs on Monday, August 30, 2010.

More news


Advertisement

    Recent Estimates

AnalystFirm NameSymbolEPS Estimate
anamrdaNA JNJ$1.15
XXXXXXXXXX SDRL$0.64
XXXXXXXXXX AXP$0.82
XXXXXXXXXX KWK$0.16
robertXXXXX AIG$0.99
NunyaXXXXX KOG$0.02
xy YRCW($0.09)
XXXXXXXXXX BZH($0.28)
XXXXXXXXXX HOGS$0.35
XXXXXXXXXX AGNC$1.16