Dow Dips Over 500 Points; ISM Manufacturing PMI Falls In July

U.S. stocks traded lower midway through trading, with the Dow Jones index dipping more than 500 points on Thursday.

The Dow traded down 1.26% to 40,327.48 while the NASDAQ fell 1.57% to 17,322.26. The S&P 500 also fell, dropping, 1.05% to 5,464.56.

Leading and Lagging Sectors

Communication services shares gained by 1.1% on Thursday.

In trading on Thursday, information technology shares fell by 2.3%.

Top Headline

The ISM manufacturing PMI declined to 46.6 in July versus 48.5 in the prior month, below market estimates of 48.8.

Equities Trading UP
                       

Equities Trading DOWN

Commodities

In commodity news, oil traded down 0.8% to $77.26 while gold traded up 0.7% at $2,489.90.

Silver traded down 1% to $28.655 on Thursday, while copper fell 1.9% to $4.0975.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 1.23%, Germany's DAX fell 2.32% and France's CAC 40 fell 2.14%. Spain's IBEX 35 Index fell 1.9%, while London's FTSE 100 fell 1.01%.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan's Nikkei 225 dipping 2.49%, Hong Kong's Hang Seng Index falling 0.23% and S&P BSE Sensex gaining 0.15%.

Economics

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