Wall Street slumps after weaker-than-expected services sector data

US stocks fell sharply on Thursday after data showed business activity slowed in September to its lowest level in three years. (Photo: AP)

US stocks fell sharply on Thursday after data showed business activity slowed in September to its lowest level in three years, the latest economic indicator to point to a sharp downturn in the US.

At 10:02 am EST, the Dow Jones Industrial Average was down 232.00 points, or 0.89 percent, at 25,846.62, the S&P 500 was down 21.15 points, or 0.73 percent, at 2,866.46. The Nasdaq Composite was down 62.66 points, or 0.80 percent, at 7,722.59.

Moments before the data, the Dow Jones Industrial Average was down 17.16 points, or 0.07 percent, at 26,061.46, the S&P 500 was up 2.79 points, or 0.10 percent, at 2,890.40. The Nasdaq Composite was up 6.57 points, or 0.08 percent, at 7,791.82.

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Last Update: 14:21 KSA 17:21 - GMT 14:21
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