Major US stock indexes have fallen significantly, as concerns about China and the impact of higher Treasury bond yields on global growth led to a fall in luxury companies and microchip manufacturers.
The focus of market participants was also data on the United States. According to a report by the Department of Labor, US producer prices rose 0.2% in September, which followed an unexpected decline in August and was in line with expectations. The rise in prices for services outweighed a slight drop in commodity prices. In August, the final demand price index fell by 0.1%. For 12 months to September, the producer price index rose by 2.6%, which is slightly less than expected. Economists had forecast a PPI growth of 0.2% for the month and an increase of 2.8% on an annualized basis. Last month, a key indicator of producer prices, which excludes services in the field of food, energy and trade, grew by 0.4%, which is the largest increase since January. For 12 months to September, the main PPI rose by 2.9%, as in the previous month.
In addition, as it became known, wholesale inventories in the US grew slightly more than originally estimated in August. The Commerce Department reported that wholesale inventories rose 1.0% instead of the 0.8% originally reported last month. Stocks rose 5.3% over the same period last year. The component of wholesale inventories, which is included in the calculation of gross domestic product growth, rose by 0.7% in August.
All DOW components recorded a decline (30 out of 30). Outsiders were NIKE, Inc. shares. (NKE, -6.81%).
All sectors of the S & P finished trading in the red. The largest decline was shown by the technology sector (-3.9%)
At the time of closing:
Dow 25,598.74 -831.83 -3.15%
S & P 500 2,785.68 -94.66 -3.29%
Nasdaq 100 7,422.05 -315.97 -4.08%
U.S. stock-index futures fell on Wednesday amid lingering concerns about rising interest rates and slowing global growth.
Global Stocks:
| Index/commodity | Last | Today's Change, points | Today's Change, % |
| Nikkei | 23,506.04 | +36.65 | +0.16% |
| Hang Seng | 26,193.07 | +20.16 | +0.08% |
| Shanghai | 2,725.84 | +4.82 | +0.18% |
| S&P/ASX | 6,049.80 | +8.70 | +0.14% |
| FTSE | 7,222.57 | -15.02 | -0.21% |
| CAC | 5,269.33 | -49.22 | -0.93% |
| DAX | 11,877.18 | -100.04 | -0.84% |
| Crude | $74.59 | | -0.49% |
| Gold | $1,189.20 | | -0.19% |
Wall Street. Stocks before the bell
(company / ticker / price / change ($/%) / volume)
| 3M Co | MMM | 210.01 | -0.41(-0.19%) | 428 |
| ALCOA INC. | AA | 37.4 | -0.24(-0.64%) | 3217 |
| ALTRIA GROUP INC. | MO | 63.24 | 0.14(0.22%) | 2181 |
| Amazon.com Inc., NASDAQ | AMZN | 1,863.59 | -6.73(-0.36%) | 30699 |
| Apple Inc. | AAPL | 225.84 | -1.03(-0.45%) | 164305 |
| AT&T Inc | T | 33.53 | 0.03(0.09%) | 24039 |
| Barrick Gold Corporation, NYSE | ABX | 11.2 | -0.12(-1.06%) | 47039 |
| Boeing Co | BA | 382.75 | -2.69(-0.70%) | 4594 |
| Caterpillar Inc | CAT | 148.51 | -0.95(-0.64%) | 1912 |
| Chevron Corp | CVX | 126.81 | -0.01(-0.01%) | 6146 |
| Cisco Systems Inc | CSCO | 47.31 | -0.18(-0.38%) | 1754 |
| Exxon Mobil Corp | XOM | 86.5 | -0.01(-0.01%) | 1508 |
| Facebook, Inc. | FB | 157.34 | -0.56(-0.35%) | 70641 |
| Freeport-McMoRan Copper & Gold Inc., NYSE | FCX | 12.89 | -0.29(-2.20%) | 54335 |
| General Electric Co | GE | 13.36 | -0.19(-1.40%) | 373453 |
| General Motors Company, NYSE | GM | 32.6 | -0.05(-0.15%) | 3540 |
| Google Inc. | GOOG | 1,132.50 | -6.32(-0.56%) | 3632 |
| Hewlett-Packard Co. | HPQ | 24.93 | -0.04(-0.16%) | 1010 |
| Home Depot Inc | HD | 197.89 | 2.14(1.09%) | 11302 |
| Intel Corp | INTC | 46 | -0.55(-1.18%) | 79322 |
| International Business Machines Co... | IBM | 147.11 | -0.13(-0.09%) | 251 |
| International Paper Company | IP | 45 | 0.36(0.81%) | 28752 |
| JPMorgan Chase and Co | JPM | 114.45 | -0.07(-0.06%) | 13227 |
| McDonald's Corp | MCD | 171.38 | 1.55(0.91%) | 11249 |
| Merck & Co Inc | MRK | 72.35 | 0.01(0.01%) | 437 |
| Microsoft Corp | MSFT | 111.84 | -0.42(-0.37%) | 29607 |
| Pfizer Inc | PFE | 45.6 | 0.13(0.29%) | 1501 |
| Procter & Gamble Co | PG | 81.87 | -0.33(-0.40%) | 6920 |
| Starbucks Corporation, NASDAQ | SBUX | 57.68 | -0.03(-0.05%) | 29910 |
| Tesla Motors, Inc., NASDAQ | TSLA | 264.26 | 1.46(0.56%) | 74723 |
| The Coca-Cola Co | KO | 46.46 | 0.07(0.15%) | 1351 |
| Travelers Companies Inc | TRV | 133 | 1.41(1.07%) | 4760 |
| Twitter, Inc., NYSE | TWTR | 29.12 | -0.15(-0.51%) | 39507 |
| United Technologies Corp | UTX | 135.56 | -0.32(-0.24%) | 187 |
| UnitedHealth Group Inc | UNH | 270.75 | 0.64(0.24%) | 243 |
| Verizon Communications Inc | VZ | 55 | 0.01(0.02%) | 3792 |
| Visa | V | 142.06 | -0.25(-0.18%) | 6552 |
| Wal-Mart Stores Inc | WMT | 97.02 | -0.06(-0.06%) | 2103 |
| Walt Disney Co | DIS | 117.1 | 0.21(0.18%) | 645 |
| Yandex N.V., NASDAQ | YNDX | 33.35 | 0.02(0.06%) | 1500 |
Analyst coverage initiations before the market open
Freeport-McMoRan (FCX) initiated with a Underweight at Barclays; target $12
Int'l Paper (IP) downgraded to Neutral from Buy at Goldman
McDonald's (MCD) upgraded to Buy from Neutral at Guggenheim