U.S. stocks extended losses midway through trading, with the Nasdaq Composite dropping more than 200 points on Wednesday.
The Dow traded down 1.26% to 29,934.96 while the NASDAQ fell 2.13% to 10,937.85. The S&P 500 also fell, dropping, 1.59% to 3,730.73.
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Leading and Lagging Sectors
In trading on Wednesday, utilities shares fell by 2.2%.
Top Headline
US crude oil inventories dropped by 1.356 million barrels in the week ended September 30th, versus market estimates of a 2.052-million-barrel rise, the Energy Information Administration said.
Equities Trading UP
Equities Trading DOWN
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Commodities
In commodity news, oil traded up 1.3% to $87.66, while gold traded down 0.9% at $1,715.50.
Silver traded down 4% to $20.255 on Wednesday while copper fell 0.5% to $3.4710.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 1.26%, London’s FTSE 100 fell 0.89% while Spain’s IBEX 35 Index fell 1.86%. The German DAX dropped 1.51%, French CAC 40 fell 1.29% and Italy’s FTSE MIB Index fell 2.16%.
The S&P Global Eurozone services PMI was revised down to 48.8 in September versus a preliminary level of 48.9, while composite PMI fell to 48.1 in September from a preliminary reading of 48.2.
The S&P Global Germany’s services PMI was revised lower to 45 in September versus a preliminary reading of 45.4, while French services PMI was revised lower to 52.9 in September from a flash reading of 53. Industrial production in France rose 2.4% from the prior month in August. The S&P Global Spain services PMI dropped to 48.5 in September from 50.6 in the previous month.
Economics
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COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 98,308,950 cases with around 1,085,360 deaths. India confirmed a total of at least 44,601,930 cases and 528,730 deaths, while France reported over 35,573,130 COVID-19 cases with 155,270 deaths. In total, there were at least 624,421,150 cases of COVID-19 worldwide with more than 6,553,480 deaths.
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