Market Watch: S&P Turns Negative for 2015 On Hectic Day

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U.S. stocks were lower on Wednesday as investors began to worry over continued issues in Chinese markets. The current figures show the S&P trading at a loss thus far in 2015.

Right before noon, trading on the NYSE was suspended due to a technical malfunction. It didn’t resume until after 3 p.m.

Stocks in China closed down 6 percent overnight—after falling as far as 8 percent earlier in the trading session. The Shanghai Composite—China’s main equity index has crashed by more than 30% since its peak level last month. The fallout reached the commodities market earlier this week and is now spreading to domestic exchanges.

Elsewhere, the Federal Market Open Committee’s (FOMC) minutes from their June meeting were released this afternoon, and revealed concerns over Greece and other issues that could affect the timing of an interest rate hike. More will be known on Friday, when Federal Reserve Chair Janet Yellen speaks.

And last but certainly not least, Greek Prime Minister Alexis Tsipras was rumored to be submitting new reform proposals to Eurozone ministers ahead of Sunday’s meeting.

Here are the final numbers from Wednesday on Wall Street:

Dow Jones Industrial Average: 17,515.42 (-261.49)

NASDAQ: 4,909.76 (-87.70)

S&P 500: 2,046.69 (-34.65)

Phil Cannella

Phil Cannella

As a partner with CBS Radio in Philadelphia, Phil Cannella reports on the issues most important to the American retiree.
Phil Cannella

@phillipcannella

Phil Cannella a revolutionary thinker. Phil Cannella's cause is the Phil Cannella Crash Proof Retirement system. Phil Cannella has worked for decades.
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Phil Cannella

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