All major indexes are negative following weak data from China and Eurozone, J&J biggest loser
- US Market
- 3 months ago
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