US stocks sank on concerns over debt ceiling, weak data ...Middle East

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US stocks sank on concerns over debt ceiling, weak data
source : Daily Sun ( Middle East ) () 42
NEW YORK: US stocks dropped on Tuesday as prospect of US debt default and weak labor market indicator dented market sentiment, reported Xinhua.The Dow Jones Industrial Average fell 367.17 points, or 1.08 per cent, to 33,684.53. The S&P 500 sank 48.29 points, or 1.16 per cent, to 4,119.58. The Nasdaq Composite Index shed 132.09 points, or 1.08 per cent, to 12,080.51.Ten of the 11 primary S&P 500 sectors ended in red, with energy and financials sectors leading the laggards down 4.28 per cent and 2.3 per cent, respectively. Meanwhile, the consumer discretionary sector bucked the trend, rising 0.16 per cent.The United States could not be able to satisfy all of the government’s obligations as ear

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