Mounting concerns in some quarters around slowing global growth overshadowed another busy - and generally positive day - on the US corporate earnings calendar and left the benchmark indices nursing steep losses. Dow tumbled 608 points or -2.41%, unwinding an earlier ~100-point rally following a strong quarterly result from Boeing Co (up +1.31%) and erasing year-to-date gains. The broader S&P500 dropped -85-points or -3.09% and also turned negative for the year (24-days ago the index was up +9.6% for the year).. The technology-centric NASDAQ slumped -4.48% (to 7,108.40) and entered official correction territory amid sharp falls for the FAANG group (Facebook Inc down -5.41%, Apple -3.43%, Amazon.com Inc -5.91%, Netflix Inc -9.4% and Google parent Alphabet Inc -5.18%). The Nasdaq settled more than >10% below its 29 August all time high (8,113.55). The small capitalisation Russell 2000 index fell -3.79% and sits -15.6% below its bull market high. October has been a tough month to date, with the Dow down -7.1%, S&P500 -8.9% and Nasdaq -11.7%.
