The Standard & Poor’s 500 Index lost 1.5 percent to 1,921.22 at 4 p.m. in New York. The benchmark index slid 3.4 percent for the week, its second-worst performance since December. The Dow Jones Industrial Average fell 272.38 points, or 1.7 percent, to 16,102.38. Equity markets will be closed Monday for Labor Day. Trading on U.S. exchanges was 10 percent below the three-month average.
It’s “a glass-half-empty kind of day,” said Patrick Blais, a fund manager at Manulife Asset Management Ltd. in Toronto. He helps manage about C$280 billion at the firm. “Right now there’s a lot of nervousness so it’s natural for the market to react aggressively.”
In the U.S. stock market, the S&P 500 had its sixth decline exceeding 1 percent in 12 days. Prior to that there’d been 10 such declines since January. The benchmark gauge has moved up or down by an average of more than 2 percent a day since falling out of its 2015 trading range on Aug. 20 — almost four times as much as in the prior nine months.
September is historically the worst month of the year for the S&P 500, with the equity gauge falling 1.1 percent on average based on data going back to 1927, according to data compiled by Bloomberg.
“There’s a risk-off mentality rather than a risk-on one going into a three-day weekend for the U.S. and after the Chinese markets have been closed for four days,” Mark Spellman, a fund manager who helps oversee $4.2 billion at
Alpine Funds in Purchase, New York, said by phone. “The weakness in the market is due primarily to continued global growth concerns.”
SanDisk Corporation (NASDAQ:SNDK) finished last trade at $52.84, losing -2.37%. Trading volume recorded for this company was about 2.48 million shares as compared to its average volume of 4.03 million shares. The share price plunged almost -11.55% in the last one month, while its 52 week high is $106.64. The company has the total of 204.44 million outstanding shares while its market capitalization is now about $10.80 billion. SanDisk Corporation (NASDAQ:SNDK) proclaimed that John Scaramuzzo, senior vice president and general manager, Enterprise Storage Solutions, will address the investment community attending the 2015 Citi Global Technology Conference on Wednesday, September 9th at 11:00 a.m. ET. The session will be webcast and can be accessed live from the SanDisk Investor Relations website at www.sandisk.com/IR. A replay of the webcast will also be available.
Hologic, Inc. (NASDAQ:HOLX) closed at $38.53, up 0.26%, on volume of over 2.76 million shares. The share price fell -3.09% in the last 5 days. The company has an average trading volume of 4.09 million shares. In the time frame of the last one month, shares dropped almost -8.87%. Its market capitalization was $10.86 billion. Hologic, Inc. (NASDAQ:HOLX) unveiled that the Company will present at the Morgan Stanley Global Healthcare Conference in New York on Wednesday, September 16, 2015 at 11:40 a.m. ET. Each presentation will be webcast live and may be accessed through a link on the investors section of Hologic’s website at http://investors.hologic.com. The webcasts will be available for 30 days following the events. Hologic, Inc. is a leading developer, manufacturer and supplier of premium diagnostic products, medical imaging systems and surgical products.
ServiceNow Inc (NYSE:NOW) moved down during the previous trading session, traded with a decrease of -2.01% and closed at $69.79, after gaining total volume of 1.07 million shares. Its opening price was $70.21. It has total market capitalization of $10.89 billion and a total of 156.10 million outstanding shares. The company’s earnings per share (EPS) is $-1.36, while its beta value stands at 0.92 points. ServiceNow Inc (NYSE:NOW) reported that Starz is using ServiceNow to streamline processes within the company’s IT and Broadcast departments. Extending ServiceNow from use within the Starz’s IT group, the Starz broadcast division uses the software to help maintain the functionality of broadcast equipment that editors and producers use to create and deliver content, such as its STARZ Original series, including “Outlander” and “Power.” Edit and audio bays, workstations, and storage, for instance, are required to have maximum uptime.