S&P 500 Falls as Manufacturing Data Weakens

Weak Manufacturing Data Triggers Market Decline

The S&P 500 index, a key benchmark for U.S. stocks, experienced a notable decline of 2% on September 3, 2024. This downturn was primarily influenced by disappointing manufacturing data. The latest Purchasing Managers Index (PMI) report highlighted a contraction in manufacturing activities, sparking fears of an economic slowdown. As a result, major U.S. stock indices, including the Dow Jones and Nasdaq, also witnessed significant losses of 1.5% and 3.3% respectively.