The top three indices in the United States finished down in heavy activity on Thursday, September 30, 2021, as concerns about inflation, increasing rates, and supply chain difficulties weighed on risk emotions. However, market losses were limited following news that legislators in Washington avoided a government shutdown by approving a stopgap budget package in both the Senate and the House.
The S&P 500 index dropped 51.92 points, or 1.19 percent, to 4,307.54. The Nasdaq Composite Index, which is highly weighted toward technology, was down 63.86 points, or 0.44 percent, at 14,448.58.The total volume turnover on United States exchanges was 10.73 billion shares, up from 9.32 billion shares the day before. On the New York Stock Exchange, 1214 items rose, 2152 dropped, and 111 were unchanged. On the NASDAQ, 2134 stocks rose, 2396 fell, and 211 were unchanged.
All 11 sectors finished worse than the S&P P500 index, with industrials (down 2.1 % ) doing the worst, followed by financials (down 1.6 % ), consumer staples (down 1.85 % ), materials (down 1.6 % ), real estate (down 1.6 % ), and energy (down 1.4%).
Concerns about rising inflation, interest rate rises, and signals from the Federal Reserve that it may soon begin winding down its pandemic-era asset purchases pushed up United States treasury yields, with the 10-year Treasury yield breaching above 1.567 % earlier this week. Yields and prices move in opposite directions. The United States aviation safety agency said that the firm has been allowed to resume space missions.