The American stock market is falling amid weak data

The US stock market fell sharply on Tuesday under pressure from weak economic data, which increased concerns about the state of the US economy.

The index of business activity in manufacturing (ISM Manufacturing) showed a modest increase, but remained below the mark signaling a reduction in activity. The labor market data, which will be released on Thursday, is critically important for the Federal Reserve's decision at the September meeting.

Among the leaders of the fall on the Dow Jones were shares of Intel Corp., Boeing Co., Caterpillar Inc., Goldman Sachs Group Inc. and 3M Co. Shares of United States Steel Corp. They declined after the statement by US Vice President Kamala Harris against the sale of the company to Japanese Nippon Steel.

The drop in quotations of large IT companies led to the collapse of the Nasdaq Composite. As a result, the Dow Jones, S&P500 and Nasdaq Composite indexes fell by 1.51%, 2.12% and 3.26%, respectively.