WS News
23 Sep 2026, 13:59
U.S. Stocks Fall as Strong September PMI Data Revives Rate Concerns
U.S. stocks traded lower Tuesday as stronger-than-expected September business activity data raised concerns that resilient economic growth could keep interest rates elevated for longer.
The S&P 500 fell 0.37% to 7,736.24, while the Dow Jones Industrial Average declined 0.34% to 51,687.57. The Nasdaq underperformed with a 0.54% drop to 27,095.84.
S&P Global’s U.S. Manufacturing PMI jumped to 57.0 in September from 53.9, well above the 53.6 forecast. Services PMI also strengthened to 58.7 from 56.5, beating expectations of 55.8, while the Composite PMI climbed to 58.4 from 56.0.
The readings point to strong momentum across both manufacturing and services. While that supports the economic outlook, investors may also see the data as reducing the urgency for additional monetary easing and potentially keeping Treasury yields under upward pressure.
Technology stocks were among the weaker areas of the market, contributing to the Nasdaq’s larger decline. Investors will now watch upcoming inflation, labor-market and Federal Reserve signals for further clues on the path of interest rates.
U.S. stocks traded lower Tuesday as stronger-than-expected September business activity data raised concerns that resilient economic growth could keep interest rates elevated for longer.
The S&P 500 fell 0.37% to 7,736.24, while the Dow Jones Industrial Average declined 0.34% to 51,687.57. The Nasdaq underperformed with a 0.54% drop to 27,095.84.
S&P Global’s U.S. Manufacturing PMI jumped to 57.0 in September from 53.9, well above the 53.6 forecast. Services PMI also strengthened to 58.7 from 56.5, beating expectations of 55.8, while the Composite PMI climbed to 58.4 from 56.0.
The readings point to strong momentum across both manufacturing and services. While that supports the economic outlook, investors may also see the data as reducing the urgency for additional monetary easing and potentially keeping Treasury yields under upward pressure.
Technology stocks were among the weaker areas of the market, contributing to the Nasdaq’s larger decline. Investors will now watch upcoming inflation, labor-market and Federal Reserve signals for further clues on the path of interest rates.
