Market Snapshot: Dow drops 200 points after best day of September as auto worker strike threatens economy

by | Sep 15, 2023 | Stock Market

U.S. stocks saw their losses accelerate on Friday following the best day for equities this month as an auto workers strike threatened to undercut U.S. economic growth while potentially contributing to inflation. What’s happening
The Dow Jones Industrial Average
shed 196 points, or 0.6%, to 34,704.

The S&P 500
fell by 41 points, or 0.9%, to 4,464.

The Nasdaq Composite
declined by 177 points, or 1.3%, to 13,748.

On Thursday, the Dow rose 332 points, or 1%, its biggest gain in five weeks. The S&P 500 rose 0.8% for its largest one-day rise since Aug. 25, as a 25% gain by Arm Holdings
in its trading debut helped boost sentiment.

What’s driving markets The start of a strike of the United Auto Workers against the Big Three U.S. automakers, Ford
General Motors
and Chrysler owner Stellantis
was receiving the bulk of the blame for driving U.S. stocks lo …

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