Wall Street drops after weak industrial earnings, hawkish Fed
Updated : October 18, 2018 08:18 PM IST
The US-China trade war, higher rising borrowing costs and wage pressures have been the main concern of investors as the third-quarter earnings season gains steam, and contributed to last week's selloff.
Shares of Textron fell 9 percent after reporting a lower-than-expected quarterly profit, hit by a drop in sales of its turboprop aircraft as well as flat deliveries of its flagship Cessna business jets.
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