US Close 19 Oct 18: US stocks retreat as investors climb a wall of worry

US sharemarkets declined on Thursday, remaining volatile in October. Disappointing earnings results from Cessna business jet maker Textron (-11.3%) and equipment rental company United Rentals (-15.0%) dampened sentiment. And US-Saudi Arabia tensions weighed on defence contractors Lockeed Martin (-1.6%) and Raytheon (-0.8%). Shares of PulteGroup (-1.8%) and NVR (-3.8%) fell after Bank of America Merrill Lynch downgraded housing construction companies. Apple shares fell 2.3%. The Dow Jones fell by 327 points or 1.3%. The S&P500 index fell 1.4% and the Nasdaq index fell by 157 points or 2.1%.

 

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