Dow Takes A Hit: Market Sinks 600 Points In Rough Start To September
04 Sep 2024 02:32 AM IST
Wall Street stumbled at the outset of September, with the Dow Jones Industrial Average plunging 626 points, or 1.5%, following a disheartening economic report. This latest data from the Institute for Supply Management revealed a fifth consecutive month of contraction in manufacturing, stoking fears that the Federal Reserve’s aggressive interest rate hikes have overextended their impact on the U.S. economy.
