Stocks
Dow Plummets Over 250 Points as Empire State Index Falls Short
The US stock market experienced a downturn on Tuesday, with the Dow Jones index plummeting more than 250 points. The Dow traded down 0.55% to $52,135.49 while the NASDAQ declined 0.32% to $26,101.58.
Despite some sectors showing resilience, others were hit hard by the market's decline. Energy shares managed to rise by 0.9%, but real estate stocks fell by 1%. The S&P 500 also suffered a loss, dropping 0.24% to $7,601.85.
The New York Fed's Empire State Manufacturing Index came in below expectations, declining 13 points to 7.6 in September, down from 20.6 in August. This was a disappointment to market analysts who had predicted a reading of 14.75.