The United States (US) stock market fell further on Thursday after another weak session on Wall Street as the market struggled at the start of September.
In regular trading on Wednesday, the S&P 500 and Nasdaq Composite fell 0.16% and 0.3%, respectively, declining for two consecutive sessions.
Meanwhile, the Dow rose 0.09%. The move comes as fears of a new recession triggered by weak US manufacturing survey data roiled markets, as investors await key labor market data this week.
Adding to the concern when JOLTS data published yesterday recorded the number of job offers opened in the US in July was the lowest since 2021.
Looking at investor focus stocks, energy stocks led the decline, with Exxon Mobil and Chevron falling 1.2% and 1.8% respectively.
Technology stocks also underperformed as Nvidia shares fell 1.7% amid AI concerns, while Intel lost 3.3% after Reuters reported that the silicon wafers company failed tests conducted by Broadcom.
In contrast, GitLab jumped 21.6% after raising its fiscal 2025 sales outlook to $742-$744 million, beating its previous estimate of $733-$737 million.
