US stock indices close lower, Nasdaq sheds 300 points
US stocks closed Thursday on a down note, as investors assessed economic data showing a contraction in the manufacturing sector, which hit its lowest level in eight months. Markets are also anticipating Federal Reserve Chair Jerome Powell's speech today, Aug. 23.
The Dow Jones Industrial Average lost 177 points, or 0.45%, closing at 40,712 points. The index gained more than 41,000 points during the session for the first time this month.
The S&P 500 index edged down 0.9%, or 50 points, to end at 5,570 points.
The Nasdaq Composite Index slumped 1.65%, or 299 points, to finish it 17,619 points.
Elsewhere, the STOXX Europe 600 Index closed 0.35% higher at 515.7 points.
Germany’s DAX 40 Index added 0.25% to 18,493 points, with FTSE 100 stabilizing at 8,288 points. The CAC 40 Index was unchanged at 7,449 points.
The Nikkei 225 gained 0.7%, or 259 points, to 38,211 points. TOPIX also rose 0.25% to 2,671 points.
In the oil market, futures for benchmark Brent crude for October delivery rose by 1.55%, or $1.17, to $77.22 a barrel.
Meanwhile, the price of US WTI crude for October delivery jumped 1.5%, or $1.08, to $73.01 a barrel.
As for gold, December futures prices declined 1.2%, or $30.8, to $2,516.7 per ounce.
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