Stock Market Today: Dow Erases 1,100-Point Intraday Drop to End Higher
The stock market swoon appeared set to continue into a fourth week, with all the major benchmarks notching massive intraday losses.
Negative readings on IHS Markit's Flash Manufacturing Purchasing Managers Index (PMI) and Flash Services PMI – both of which came in well below economists' consensus estimates today (55.0 vs. 56.9 expected; 50.9 vs. 54.9 expected, respectively) – added to the bearish narrative on Wall Street, says Michael Reinking, senior market strategist for the New York Stock Exchange.
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