US STOCKS-Wall St down sharply amid growth fears, oil slide

martes 3 de mayo de 2016 13:01 GYT

* Chinese factory activity shrinks for 14 straight months

* Pfizer higher after reporting rise in quarterly profit

* Coty falls after first profit miss in seven quarters

* Indexes down: Dow 0.91 pct, S&P 0.98 pct, Nasdaq 1.08 pct (Updates to early afternoon)

By Tanya Agrawal

May 3 (Reuters) - Wall Street was sharply lower in afternoon trading on Tuesday, with all 10 major S&P sectors in the red, after weak economic data out of China and Europe rekindled fears of a slowing global economy.

Activity at China's factories shrank for 14 straight months in April as demand stagnated, a private survey showed. Britain's manufacturing output last month also unexpectedly shrank to hit its lowest level in three years.

Oil prices dropped about 2 percent as rising output from the Middle East renewed concerns about global oversupply.

Exxon fell 1.5 percent and Chevron 2 percent. The stocks were the biggest drag on the S&P energy sector, which was on track for its biggest one-day decline since early March.   Continuación...