S&P, Dow fall on grim economic data, US election uncertainty, earnings

The S&P 500 and Dow were lower on Thursday after data painted a worrying picture of the economy, while President Donald Trump floated the possibility of delaying the November 3 US presidential election, feeding market uncertainty.

Investors also fretted ahead of high-profile earnings reports and expiration of enhanced employment benefits on Friday while a polarized Congress kept negotiating its next stimulus package.

Second-quarter Gross Domestic Product (GDP) data showed the US economy suffered its steepest contraction since the Great Depression, as business activity came to a halt due to lockdowns aimed at fighting the pandemic.

Also jobless claims rose last week, adding to