Afternoon Markets: S&P slides over 1% on poor economic data

clock

US stock markets opened sharply lower in early trading following negative consumer and house price data.

The Dow Jones was down 83.74 points (0.81%) to 10,299, while the S&P 500 shed 12.56 points (1.13%) to 1,095. Investors were reacting to heavier than expected fall in the consumer confidence index - while house prices were also negative, plunging 2.5% during the final quarter of 2009. In London, the FTSE 100 fell in line with US losses, down 41.97 points (0.78%) to 5,310 by 4pm. Wolseley continued to lead risers, up 10.84% to £16.06. However, commodity-related stocks weighed on the market, with mining and energy shares among the biggest fallers - including Eurasian Natural Resources...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Partner Insight: Tariffs are here to stay. What's next for investors?

Partner Insight: Tariffs are here to stay. What's next for investors?

The current outlook for US tariffs is complex and their full impact on growth remains to be seen. Columbia Threadneedle Investments explores what advisers need to know, key events to keep top of mind and how to navigate the uncertainty.

Columbia Threadneedle Investments
clock 23 October 2025 • 5 min read
IFS: Reeves must plug £22bn fiscal hole to restore 'tiny' headroom

IFS: Reeves must plug £22bn fiscal hole to restore 'tiny' headroom

Think tank urges chancellor to avoid 'limping from one forecast to the next'

Linus Uhlig
clock 16 October 2025 • 2 min read
Why higher bond yields aren't causing a Mini-Budget meltdown

Why higher bond yields aren't causing a Mini-Budget meltdown

'One thing we know about Rachel Reeves is she will live or die by her fiscal rules'

Laith Khalaf
clock 07 October 2025 • 5 min read