Services Data, Shutdown Lead to Stock Drop

Perpetual TouristServices Data, Shutdown Lead to Stock Drop (Bloomberg)

Weaker-than-expected service industry growth combined with fears of the government shutdown leading to a recession caused stocks to drop today, sending the S&P 500 down almost one percent for its biggest decline in more than a month. “I think people are starting to raise an eyebrow finally,” Joseph Saluzzi, partner and co-head of equity trading at Themis Trading LLC in Chatham, New Jersey, said. “The longer this goes on, people get a little more nervous. And when people get nervous they sell first and ask questions later.”