US stocks fell in midday trading Thursday, with the S&P 500 widening its September deficit even further on the last trading day of the month.
The S&P 500 fell as much as 0.9 percent, while the Nasdaq composite was down a whopping 0.4 percent. The S&P 500 is on track to fall about 4.5 percent in September after seven consecutive months of gains.
Energy stocks were among the best-performing in the S&P 500 this month, rising about 10 percent, while oil prices rose more than 7 percent in September. Materials and utilities companies declined as merchants adjusted to supply chain bottlenecks.
The state’s first claims for unemployment benefits rose for the third straight week to 362,000 last week, up 11,000 from the previous week, the Labor Department reported Thursday.
The European stock indices fell slightly, the Stoxx Europe 600 about 0.1 percent lower.
Bed Bath & Beyond fell about 23 percent after the company lowered its revenue and profit forecasts. The company said the recent surge in Covid-19 cases had caused a sharp slowdown in traffic to its stores, and said costs and supply chain issues hit the bottom line.