On Sunday, September 3rd, North Korea conducted its sixth test of a supposed advanced hydrogen bomb for a long-range missile. As of late Tuesday morning, U.S. stocks were drastically lower, with the Dow Jones Industrial Average shedding more than 150 points.
Wall Street is undeniably facing an incoming rough ride in September — usually the worst month for stocks. Contributing factors? Showdown in Washington over the U.S. budget, federal debt ceiling, and now, the increasing political tension with North Korea.
Let’s look at the numbers:
- As of 10:43 ET, the DJIA (Dow Jones Industrial Average) was down 167.01 points, or 0.76% at 21,820.55
- SPX was down 11.95, or 0.48%, at 2,464.6
- The Nasdaq Composite .IXIC was down 29.90 points, or 0.46 percent, at 6,405.43
- 9 out of the 11 major S&P sectors were lower
- Goldman Sach’s GS.N fell 3.4%
Federal Governor Lael Brainard stated: “U.S. inflation is falling well short of targets, so the central bank should be cautious about raising interest rates any further until it is confident that prices are headed higher.”
Other data also revealed that new orders for U.S.-made goods were at their record low in 3 years, but orders for capital goods were stronger than previous.
September will be a long month for Wall St.
Featured Image: twitter
