U.S. equity futures are indicating a rebound on Wall Street after Tuesday’s selloff sparked by a contraction in U.S. manufacturing.
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Dow Industrial futures are gaining 0.6 percent, S&P 500 futures are adding 0.7 percent and Nasdaq futures are up 0.8 percent.
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This a bounce back compared to the selling that took over the market, with the Dow down as much as 425 points at one point after the Institute for Supply Management said its manufacturing index slid to a 3½-year low of 49.1 last month from July’s 51.2.
A reading under 50 indicates contraction.
Technology companies drove a slide in U.S. stocks as markets reopened following a holiday weekend and the latest round of tariff hikes by Beijing and Washington on each other’s imports.
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Ticker | Security | Last | Change | %Chg |
---|---|---|---|---|
I:DJI | DOW JONES AVERAGES | 26118.02 | -285.26 | -1.08% |
SP500 | S&P 500 | 2906.27 | -20.19 | -0.69% |
I:COMP | NASDAQ COMPOSITE INDEX | 7874.158448 | -88.72 | -1.11% |
The benchmark S&P 500 index dropped 0.7 percent, the Dow lost 1.1 percent and the Nasdaq composite fell 1.1 percent.
In Asian markets, China’s Shanghai Composite rose 0.6 percent, Japan’s Nikkei was up 0.2 percent and Hong Kong’s Hang Seng advanced 1.6 percent.
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In London, Prime Minister Boris Johnson suffered a setback when Parliament agreed to allow his opponents to introduce legislation that would block Britain from leaving the EU without an agreement on terms of their future trade and other relations. Britain is due to withdraw Oct. 31, a deadline the trade bloc’s other members would have to agree to postpone.
The Associated Press contributed to this article.