U.S. Stocks Rise to Cap Volatile Quarter


United States stocks fell more than 1% for the second straight session on Wednesday, hitting a fresh one-month low, as September's weak private payrolls report added to concerns of a slowdown in the world's largest economy.

At 9:38 a.m. ET, the Dow Jones Industrial Average was down 22.96 points, or 0.09%, at 26,055.66, the S&P 500 was up 1.15 points, or 0.04%, at 2,888.76.

The S&P 500's two-day slump was the most in two months as private payrolls fell short of estimates a day after a manufacturing gauge slumped to the lowest in a decade. The Nasdaq fell 123 points, or 1.6%, to 7,785.

Stocks briefly added to those losses on Thursday after ISM's reading on the USA services sector fell last month to its lowest level since August 2016.

The S&P 500 lost 1.8% and the Nasdaq fell 1.6%.

Stocks tumbled again on Wednesday as worries about a weakening global economy boomeranged around the world. The index plunged below 2,900 and took out its average price for the past 100 days, levels it hadn't breached in a month.

Mega-cap tech stocks were hit particularly hard as shares of Apple fell more than 2.6%, Google-parent Alphabet shed 2.3%, and Amazon slid 1.4%.

Investors moved to the safety of US Treasuries after the ISM report showed its manufacturing activity index at 47.8, falling further from August's sharp contraction and below economists' expectations of 50.1. The Dow gave up 494 points, or 1.9%, to 26,078.

Man kills 1, wounds at least 9 at Finland shopping center
In 2017, two people were killed and eight injured in a stabbing attack in the main square of Turku, a city in southwest Finland . Police didn't give the suspect's age, but said he was born in 1994 and he's a Finnish national without a prior criminal record.

Other factors behind the drop included fresh worries over a no-deal Brexit after British Prime Minister Boris Johnson's latest plan drew a tepid response from Brussels and anxiety over potential new USA tariffs on Europe following a World Trade Organisation ruling on subsidies for Airbus that cleared the U.S. to impose new levies.

"The fact the manufacturing side of the economy in the USA and globally is doing badly shouldn't come as a newsflash to anybody".

The S&P 500 is down 74.18 points, or 2.5%. Those fears increased bets that the Federal Reserve will cut rates this month.

The Fed is scheduled to meet at the end of the month.

Activision Blizzard Inc dropped 3.1% after Bernstein downgraded the videogame maker's shares to "market perform".

Carmakers sank after quarterly sales reports from Ford and General Motors added to concern over thinning profit margins in the industry. The drugmaker said on Tuesday it will pay $20.4 million to settle claims by two OH counties, allowing it to avoid an upcoming federal trial seeking to hold the industry responsible for the nation's opioid epidemic.

Declining issues outnumbered advancers for a 1.29-to-1 ratio on the NYSE and for a 1.03-to-1 ratio on the Nasdaq.