How major US stock indexes fared Tuesday, 9/3/2024

U.S. stocks tumbled to their worst day since an early August sell-off after another report raised worries about the economy’s health. The S&P 500 slumped 2.1% Tuesday after a report showed U.S. manufacturing shrank again in August, weighed down by high interest rates. The Dow Jones Industrial Average dropped 1.5%. The Nasdaq composite fell 3.3% as Nvidia and other Big Tech stocks led the way lower. Treasury yields also sank in the bond market. The worse-than-expected manufacturing data raised worries about the slowing U.S. economy and upped the stakes for the all-important jobs report looming on Friday.