Global stocks sold off heavily on Wednesday after poor US jobs data compounded a string of weak manufacturing reports and geopolitical concerns, a pile-up of risks that sets the stage for a rocky fourth quarter. Investors crowded into the safest corners of the US stock market, buying up utilities, real estate, consumer staples stocks, the only sectors in positive territory. Energy stocks dropped by the most, shedding 9 per cent, followed by healthcare stocks, which slipped 6 per cent. “On the positive side, the vast majority of the consumer data still looks pretty good. “It seems like the manufacturing data really spooked people,” said Jon Hill, an interest rate strategist at BMO Capital Markets.

Source: The Irish Times October 02, 2019 16:08 UTC