A laundry list of poor U.S. data pushed stocks even further into the red. Producer prices, retail sales, industrial production, and business activity in New York each came in weaker, while crude oil prices tested new 12-year lows in a fresh wave of selling. New York Federal Reserve President William Dudley contributed to uneasiness after talk of rate hike plans resurfaced. Dudley said while recent data has been 'on the softer side' he expects economic growth at a healthy clip, comments that suggest the Fed could still be on track for multiple rate hikes this year. Citigroup (C) fell despite edging past quarterly estimates. The bank quarterly earnings came in a penny above forecasts, boosted by lower legal fees. BHP Billiton (BHP) tumbled after announcing it will take a $7.2 billion writedown on its U.S. shale assets.
More from Video
One Tweet Pulls the Rug Out From Under the Indexes
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
A Technical Look at the New Dow Jones Industrial Average
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
Conagra Brands Looks Tastier After Its Upgrade to Buy
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.
Biogen Bulls Get a Lift From Quant Upgrade and Strengthening Charts
Breaking down an approach to the long side of this biotech stock.
Is Renewable Energy the Defensive Stock Opportunity You're Missing
AMSC CEO discusses that and China challenges.