US stocks slump as data reignites slowdown worries

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The Star 3h ago

US stocks slump as data reignites slowdown worries - The Star

Quick Summary:

US stocks kicked off August sharply lower after a round of economic data on Thursday spurred concerns the economy may be slowing faster than anticipated while the Federal Reserve maintains a restrictive monetary policy.

Of the 342 companies in the S&P 500 that have reported earnings through Thursday morning, 79.2% have topped analyst expectations, according to LSEG data, slightly above the 79% beat rate over the past four quarters.

Defensive sectors such as utilities and real estate led gains, as geopolitical concerns over rising tensions in the Middle East boosted the dollar and pulled Treasury yields lower.