S&P 500 marks worst performance since May

US stock indices closed higher on the fourth session of this week, with S&P 500 tumbling to a one-month trough, following an array of data from the US, which showed unemployment claims fell past expectations, while the Philly manufacturing index slowed down in August to 18.9 from 19.5, besting expectations of 18.3.

Industrial production slowed down more than expected last month, while the Capacity Utilization Rate steadied in line with expectations. 

Yesterday, US president Trump dissolved several business and manufacturing advisory counsels, forcing back to the surface business concerns about Trump's troubled agenda, while the Federal Reserve's minutes for the July 25-26 meeting showed policymakers' mounting concerns about the recent softening of inflation, despite asserting earlier this year their plans to normalize the bank's massive balance sheet in the next few months. 

Dow Jones declined 0.55%, or 120.63 points to 21,904.24, while Standard and Poor's 500 shed 0.63%, or 15.54 points to 2,452.57. NASDAQ Composite slid 0.80%, or 50.79 points to 6,294.32. 

Gold futures due on December 16 rose 0.84% to $1,293.70 from the opening of $1,282.90, while the dollar index rose 0.15% to 93.68 from the opening of 93.54. 

Otherwise, US crude futures due on September 15 rose 0.53% to $47.03 a barrel from the opening of $46.78, while Brent crude futures due on October 15 surged 1.25% to $50.90 a barrel from the opening of $50.27.