|
|
Article: UPI NewsTrack Business.
- Article from:
- UPI Energy Resources
- Article date:
- October 1, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
U.S. markets fall hard Thursday
NEW YORK, Oct. 1 (UPI) -- U.S. markets turned sharply lower Thursday after closing out the third quarter in the previous session with encouraging returns.
The third quarter ended with the Dow Jones industrial average up 15 percent from three months ago, the best quarter in 11 years.
But a slew of government reports shook investors Thursday. The Commerce Department said consumer spending spiked in August thanks to the cash for clunkers program. But spikes, by definition, retreat hard. In addition, growth in manufacturing slowed in September, the Institute for Supply Management said.
By close, the DJIA ...