US stocks have fallen as investors worried about global growth prospects after data showed US factory activity shrank in August for the first time since 2016 and the US and China imposed new tariffs on each other over the weekend. Compounding the uncertainty, the Institute for Supply Management said early on Tuesday its index of national factory activity dropped to 49.1, compared with a reading of 51.1 estimated by analysts polled by Reuters.
He also cited growing uncertainty around Brexit as a concern for investors. British MPs on Tuesday triggered a vote that could allow them to stop Boris Johnson pursuing a no-deal Brexit, a challenge that the government warned would prompt the prime minister to seek an election on October 14. Earlier in the day, data showed British construction companies last month suffered the sharpest drop in new orders since the financial crisis amid Brexit jitters.
The Dow Jones Industrial Average on Tuesday fell 285.26 points, or 1.08 per cent, to 26,118.02; the S&P 500 lost 20.19 points, or 0.69 per cent, to 2,906.27; and the Nasdaq Composite dropped 88.72 points, or 1.11 per cent, to 7,874.16.Morning-Market-Note-Wednesday-4th-September