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All major indexes are negative following weak data from China and Eurozone, J&J biggest loser

  • Regular
  • US Market
  • 5 months ago
  • 92

Wall Street stocks have plunged as both China and Europe announced weak data numbers.

However, the spotlight has been shed on Johnson & Johnson, as it has been reported their knowledge that baby powder products have been containing asbestos for the best part of a decade.

With no surprise their shares fell by 11.46%, the biggest single day loss in 16 years, dragging with it the Dow Industrials, S&P500 and the S&P healthcare index (SPXHC).

Technology sector SPLRCT was down 1.31% as a large number of its companies have global operations mainly focusing on China.

Apple Inc slumped by 2.23% as reports came in of da cut iPhone sales expectations.

With that, the Dow Jones Industrial Average fell by 1.14% to 24,317.39 points, the S&P 500 dropped by 0.87% to 2,627.5 points and the Nasdaq Composite retreated by 0.79 % to 7,014.66 points.

 

 

 

Source: Smart Trend Team