Major U.S. equities indexes moved lower as dockworkers went on strike at port facilities on the East and Gulf coasts. The labor action by members of the International Longshoremen's Association (ILA) could unsettle supply chains and cause a ripple of impacts throughout the economy, including a potential increase in inflation.
After trading in negative territory for most of the day, major U.S. equities indexes rallied in the afternoon to close out the first session of the new week and the final day of the third quarter with gains.
The engineering and tech-services firm Amentum will replace home-goods and fragrance chain Bath & Body Works on the S&P 500 at the end of the month, S&P Dow Jones Indices said Tuesday.