Shares of industrial and transportation companies fell amid foreboding of an economic slowdown in the U.S.

Factory orders rose 0.8% in April.

In a more promising sign for the industrial economy, Danish shipping giant A.P. Moller-Maersk boosted its 2024 growth projections for the second time in barely over a month, as disruptions in the Red Sea and strong shipping demand continue to buoy global freight rates.

The unexpectedly weak showing of Indian Prime Minister Narendra Modi's party, which means the business friendly leader will depend on less business friendly parties to stay in power in the world's most populous nation.

Shares of Indian conglomerate Adani Enterprises plunged.

Write to Rob Curran at

(END) Dow Jones Newswires

06-04-24 1657ET