Wall Street drops on economic slowdown signs, S&P 500 and Dow down, oil prices decline

From Yahoo Finance: 2024-06-03 15:12:06

U.S. stocks dropped due to signs of economic slowdown, with the S&P 500 down 0.2% and the Dow down 236 points. Treasury yields fell as U.S. manufacturing shrank for the 18th time in 19 months. Oil prices also declined, leading to losses for oil-and-gas producers like Halliburton and Exxon Mobil. Nvidia surged 3.4% after strong profits, while meme stock GameStop jumped 33.8% on Reddit hype. Waste Management will buy Stericycle, and Hertz Global sank 4.5%. In global markets, India’s Sensex rose 3.4% after Modi’s projected win, but Mexican stocks fell 5.7% post-election. Europe and Asia saw higher indexes, with exceptions in Shanghai and London.



Read more at Yahoo Finance: Wall Street slumps after latest signal of an economic slowdown, as oil tumbles