U.S. stocks drop as market volatility continues

Xinhua
18 Sep 2021, 07:44 GMT+10

NEW YORK, Sept. 17 (Xinhua) -- U.S. stocks fell on Friday, as market volatility continued on Wall Street.

The Dow Jones Industrial Average slid 166.44 points, or 0.48 percent, to 34,584.88. The S&P 500 decreased 40.76 points, or 0.91 percent, to 4,432.99. The Nasdaq Composite Index was down 137.96 points, or 0.91 percent, to 15,043.97.

Ten of the 11 primary S&P 500 sectors ended in red, with materials and utilities down 2.06 percent and 1.59 percent, respectively, leading the laggards. Health care rose 0.07 percent, the lone gaining group.

U.S.-listed Chinese companies traded mostly higher with eight of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

The U.S. Federal Reserve is set to hold its two-day policy meeting next week and Wall Street will look to its policy update.

U.S. equities have been under pressure recently as investors grow concerned over the economic outlook amid the headwinds of inflation, supply and worker shortages and the Delta variant. As of Friday's close, all the three major indexes suffered losses for their month-to-date returns.

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