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U.S. stocks fall amid PMI data

Xinhua, October 3, 2016 Adjust font size:

U.S. stocks traded lower in the morning session on Monday, the first trading day of the fourth quarter, as Wall Street digested economic data for more indications on the country's economy health.

At midday, the Dow Jones Industrial Average shed 66.80 points, or 0.36 percent, to 18,241.35. The S&P 500 lost 8.59 points, or 0.40 percent, to 2,159.68. The Nasdaq Composite Index was down 15.13 points, or 0.28 percent, to 5,296.87.

The seasonally adjusted Markit Flash U.S. Manufacturing Purchasing Managers' Index fell slightly from August's reading of 52.0 to 51.5 in September, the weakest improvement in overall business conditions since June.

The September purchasing managers' index registered 51.5 percent, an increase of 2.1 percentage points from the August reading of 49.4 percent, according to the Institute for Supply Management (ISM) Monday.

Meanwhile, oil prices were in focus after the Organization of the Petroleum Exporting Countries reached a deal last week to cut oil output for the first time since 2008.

Overseas, markets in China were closed for holidays.

Tokyo stocks closed higher Monday as the yen's retreat against the U.S. dollar lifted investor sentiment and sent exporter issues higher, while easing concerns about Deutsche Bank's financial predicament added to an upbeat market mood.

U.S. stocks wavered for the last week as investors pondered over uncertainties both in the United States and across the world. Endit