FILE PHOTO: A trader works on the trading floor at the New York Stock Exchange at the opening of the market in New York City, U.S., August 26, 2019. REUTERS/Andrew Kelly
The pullback from the U.S. stock market came as concerns about the trade war between the United States and China have weighed on investor sentiment, while signs of slowing economic growth across the globe have pushed companies such as Goldman Sachs to increase the probability that the United States falls into recession within the next 12 months.
The broad retreat from the U.S. market comes despite a rally that has pushed the benchmark S&P 500 up 19.4% for the year to date. The index is up 2.2% since the beginning of September.
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