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9/20, 10:02 PM (Source: TeleTrader)
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US closes lower, Dow sinks by more than 600 pts

Major stock markets in the United States closed lower on Monday amid an overall economic uncertainty dominating global news throughout the day. Investors around the world are concerned about the Chinese developer giant Evergrande's debt and its potential effect on real estate. Meanwhile, the housing market in the country recorded only a slight rise in September.

The Dow Jones Industrial Average sank by 1.79% or by 618 points at the close, as Caterpillar Inc. went down by 4.47%. The Nasdaq 100 declined by 2.10%, with Pinduoduo Inc. plunging by 6.50%. The S&P 500 decreased by 1.69% as Invesco Ltd. plummeted by 8.69%.

The dollar stood flat against the euro, selling for $1.17294 at 3:52 pm ET.

Breaking the News / JR