US Stocks Open Lower; Dow Tumbles 400 Points

U.S. stocks traded lower this morning, with the Dow Jones dropping around 400 points on Friday.

Following the market opening Friday, the Dow traded down 1.34% to 29,673.72 while the NASDAQ fell 1.96% to 10,849.83. The S&P 500 also fell, dropping, 1.75% to 3,692.24.

Also check this: Ethereum Rises Above This Major Level, Here Are Other Crypto Movers That Should Be On Your Radar Today

Leading and Lagging Sectors

Health care shares fell by just 0.7% on Friday.

In trading on Friday, energy shares dipped by 6.5%.

Top Headline

The S&P Global services PMI climbed to 49.2 in September from 43.7 in the prior month, while manufacturing PMI rose to 51.8 in September from 51.5 in August.

Equities Trading UP


  • Snow Lake Resources Ltd. LITM shares shot up 25% to $2.88 following news the company will collaborate with an LG unit to form a North American supply chain for lithium.
  • Shares of Vertical Aerospace Ltd. EVTL got a boost, shooting 15% to $7.19.
  • Global Cord Blood Corporation CO shares were also up, gaining 17% to $2.6032.



Equities Trading DOWN

  • Avenue Therapeutics, Inc. ATXI shares tumbled 28% to $4.7601 after the company received the official meeting minutes from the FDA regarding a meeting conducted for IV Tramadol in combination with other opioid analgesics to manage moderate-to-moderately severe pain. Concurrently, Avenue Therapeutics announced that it would effect a 1-for-15 reverse stock split.
  • Shares of Silver Crest Acquisition Corporation SLCR were down 22% to $7.18
  • Artivion, Inc. AORT was down, falling 19% to $15.05 after the company announced that it has stopped the PROACT Xa clinical trial.


Also check out: Why Fear Level Among US Investors Is Increasing


In commodity news, oil traded down 5.5% to $78.90, while gold traded down 1.7% at $ 1,652.50.

Silver traded down 3.6% to $18.92 on Friday while copper fell 3.9% to $3.3375.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 2.2%, London’s FTSE 100 fell 2.3% while Spain’s IBEX 35 Index fell 2.5%. The German DAX dropped 1.9%, French CAC 40 fell 2.4% and Italy’s FTSE MIB Index fell 3.1%.

The S&P Global Flash Eurozone services PMI declined to 48.9 in September from 49.8 in August, while manufacturing PMI slipped to 48.5 from 49.6. The S&P Global Flash Eurozone Composite PMI dropped to 48.2 in September from August’s reading of 48.9.

The S&P Global/CIPS UK manufacturing PMI climbed to 48.5 in September from 47.3 a month ago, while GfK consumer confidence indicator declined to -49 in September from -44 in the previous month. French composite PMI increased to 51.2 in September versus a 17-month low level of 50.4 in August, while German composite PMI declined to 45.9 from 46.9 in August. Spanish quarterly economic growth accelerated to 1.5% in the second quarter versus a preliminary reading of 1.1%.




  • The S&P Global services PMI climbed to 49.2 in September from 43.7 in the prior month, while manufacturing PMI rose to 51.8 in September from 51.5 in August.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
  • US Federal Reserve Chair Jerome Powell is set to speak at 2:00 p.m. ET.
  • Federal Reserve Vice Chair Lael Brainard Lael Brainard and Federal Reserve Governor Michelle Bowman will speak at 2:05 p.m. ET.


Check out this:
US Stocks Settle Lower For Third Consecutive Session Amid Low Volatility

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 97,795,720 cases with around 1,080,830 deaths. India confirmed a total of at least 44,558,420 cases and 528,440 deaths, while France reported over 35,050,130 COVID-19 cases with 154,850 deaths. In total, there were at least 619,319,370 cases of COVID-19 worldwide with more than 6,537,030 deaths.

Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksEurozoneCommoditiesSmall CapGlobalIntraday UpdateMarketsMid-Morning Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!