Wall St. drops on Middle East tensions, weak U.S. economic data

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FILE PHOTO: Traders work at the New York Stock Exchange (NYSE) in New York, U.S., January 2, 2020. REUTERS/Bryan R Smith

January 3, 2020

NEW YORK (Reuters) – Wall Street’s major indexes fell from record highs on Friday after a U.S. air strike in Iraq ratcheted up tensions in the Middle East and a bigger-than-expected contraction in the U.S. manufacturing sector raised concerns of slowing economic growth.

The Dow Jones Industrial Average <.DJI> fell 235.48 points, or 0.82%, to 28,633.32, the S&P 500 <.SPX> lost 23.2 points, or 0.71%, to 3,234.65 and the Nasdaq Composite <.IXIC> dropped 71.42 points, or 0.79%, to 9,020.77.

(Reporting by April Joyner; Editing by Chris Reese)

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