On Tuesday, September 3rd, U.S. stocks closed sharply lower, marking a rough start to September, a historically weak month for markets. The S&P 500, Nasdaq, and Dow logged their steepest losses since early August, led by sharp declines in the tech, energy, and materials sectors.
Weaker-than-expected manufacturing data and uncertainty over potential Federal Reserve interest rate cuts dampened investor sentiment, with Nvidia plummeting nearly 10%, leading to a broader market decline.
Economic data showed S&P Global manufacturing PMI for August was revised lower to 47.9, while the ISM PMI rose to 47.2, missing the 47.5 estimate.
Most S&P 500 sectors fell, with energy, tech, and communication services posting the biggest losses, while real estate and consumer staples gained.
The Dow Jones Industrial Average was down 1.51% and ...
