September 28, 2021

Wall Street falls on worries over slowing economic recovery

The floor of the the New York Stock Exchange (NYSE) is seen after the close of trading in New York, U.S., March 18, 2020. REUTERS/Lucas Jackson/File Photo

  • Drugmakers Amgen, Merck weigh on Dow after rating cuts
  • Boeing drops after Ryanair ends jet order talks
  • Tinder parent Match Group jumps on joining S&P 500
  • Dow down 0.78%, S&P off 0.40%, Nasdaq flat

Sept 7 (Reuters) – The Dow Jones and S&P 500 fell on Tuesday, as worries over the slowing pace of economic recovery overshadowed hopes that the Federal Reserve would maintain its accommodative stance a little longer after a soft U.S. payrolls report.

Amgen Inc (AMGN.O) and Merck & Co (MRK.N) fell about 2.4% each as the drugmakers dragged down the Dow Jones index (.DJI), after Morgan Stanley cut its rating on the stocks to “equal-weight” from “overweight”.

Nine out of eleven sub-indexes traded lower with economy-sensitive sectors like…

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