The atmosphere on Wall Street exchange is rather gloomy, between weak economic data in China and Europe and signs that inflation is resilient in the US. The U.S. services sector unexpectedly did better than expected in August, which goes against the idea that the US economy and inflation is cooling, and strengthens the case for higher rate hikes for longer. Lower than expected jobless claims also dampened the mood as it shows the job market is still very tight. Even Apple, the crown jewel of the NYSE, is having problems!
