U.S. stock markets experienced significant losses, marking the worst day of trading since early August due to concerns over the economy. On Tuesday, the S&P 500 dropped by 2.1% following a report revealing a decline in U.S. manufacturing during August, attributed to high interest rates. The Dow Jones Industrial Average also fell by 1.5%, and the Nasdaq composite saw a 3.3% decline, driven by losses in Big Tech stocks like Nvidia. Additionally, Treasury yields decreased in the bond market.

The unexpected downturn in manufacturing data raised apprehensions about the deceleration of the U.S. economy, intensifying the focus on the upcoming crucial jobs report scheduled for Friday. Highlighting the losses on Friday, the S&P 500 plunged by 119.47 points (2.1%) to 5,528.93, the Dow Jones Industrial Average decreased by 626.15 points (1.5%) to 40,936.093, the Nasdaq composite dropped by 577.33 points (3.3%) to 17,136.30, and the Russell 2000 index of smaller companies fell by 68.42 points (3.1%) to 2,149.21.

Year-to-date figures show positive movement despite the recent downturn: the S&P 500 witnessed an increase of 759.10 points (15.9%), the Dow improved by 3,247.39 points (8.6%), the Nasdaq rose by 2,124.95 points (14.2%), and the Russell 2000 went up by 122.14 points (6%).