U.S. stocks fell, yesterday, as concerns over Deutsche Bank's, and the U.K.'s plan for exiting the EU outweighed encouraging manufacturing data. Traders also felt that a report on U.S. manufacturing activity, which showed a shift back into expansion territory, might have heightened concerns that the US Federal Reserve might raise interest rates sooner rather than later. So the Dow Jones Industrial Average declined 54 points, or 0.3%, to 18,254. The Nasdaq Composite Index lost 11 points, or 0.2%, to 5,301. And the S&P 500 index fell 7 points, or 0.3%, to 2,161. Deutsche Bank remained in focus after the German lender failed to confirm whether or not it had reached a revised settlement with the U.S. Department of Justice. In US economic data, the ISM Manufacturing Index for September stood at 51.5, or better than expected, and up from 49.4 in August. Separately, total construction spending fell 0.7% in August, or worse than expected. MM/1245hrs
News On AIR | October 4, 2016 1:22 PM
U.S. stocks fell as U.K.'s plan for exiting EU encouraging manufacturing data