The Dow has dropped more than 800 points during the first two days of October.
 | WED, OCT 02, 2019 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 218.96 | -5.63 | -2.51% | | CSCO | 46.56 | -1.18 | -2.47% | | MSFT | 134.65 | -2.42 | -1.77% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | F | 8.61 | -0.29 | -3.26% | | BAC | 27.84 | -0.60 | -2.11% | | GE | 8.51 | -0.10 | -1.16% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 28.31 | -0.45 | -1.56% | | AAPL | 218.96 | -5.63 | -2.51% | | CSCO | 46.56 | -1.18 | -2.47% | |
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Recession fears are not fading away, as so many had hoped when September came to a close with a small gain for the month as well as the third quarter. The Dow Jones Industrial Average fell nearly 500 points on Wednesday. The dip came on top of a 300-point loss on Tuesday. "Worries over the global slowdown continue to build," said Ryan Detrick, senior market strategist at LPL Financial Research. "Then throw in impeachment discussions and protests in Hong Kong, and we have a sell first and ask questions later market on our hands." The market also doesn't like the numbers. On Tuesday we learned that U.S. manufacturing activity fell last month to its lowest level in more than 10 years, according to the Institute for Supply Management. And on Wednesday we saw a report from ADP and Moody Analytics that shows the pace of private-sector job creation was slowing.  Watch for more numbers later this week. CNBC's Patti Domm reports that the release of the ISM nonmanufacturing index on Thursday could hurt the market if it shows that the slowdown in manufacturing is spreading to services. Then on Friday we'll get the latest read on employment.
The biggest specter haunting the market, though, remains the trade war. Talks with China resume Oct. 10. While protests in Hong Kong distract the Chinese, an impeachment inquiry casts doubts on President Donald Trump's ability to pull together a meaningful deal.
Trump has predicted his impeachment would result in a market crash. On Wednesday, he repeated that theme in a tweet: "All of this impeachment nonsense, which is going nowhere, is driving the Stock Market, and your 401K's, down. But that is exactly what the Democrats want to do."
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