Shares of industrial and transportation companies fell as investors braced for wobbles in the U.S. economic recovery.
The broad market has weakened because of the recent cooling-off of the red-hot technology trade, said one strategist.
"You had a...relentless rise, and you take that and then you bring it to a September where you have concerns over the virus, concerns over the election, an extended overbought market and you have the [historically] worst month of the calendar facing you, and this is what you get," said Quincy Krosby, chief market strategist at Prudential Financial.
Danish shipping giant AP Moller-Maersk A/S said up to 27,000 jobs, or nearly a third of its global workforce, could be affected but didn't say how many of its 80,000 staffers world-wide could be laid off.
Garrett Motion is in talks to sell itself out of bankruptcy to an investment firm, part of the auto supplier's strategy to quell a commercial dispute over asbestos-injury payments with Honeywell International, The Wall Street Journal reported.
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