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Tuesday
Sep062011

Wall Street Comes off Labor Day Holiday Poised for Losses

Comstock/Thinkstock(NEW YORK) -- After being closed for the Labor Day holiday on Monday, U.S. stock markets will reopen for trading Tuesday poised for more losses.

U.S. stock futures were down ahead of Tuesday's opening bell after ending the previous week on a low.

In response to a dismal jobs report that showed no growth in August, the Dow Jones Industrial Average fell 253 points on Friday, while the Nasdaq shed 66 points and the S&P 500 lost 30.

Overseas, Asian markets followed suit on Tuesday, with the majority closing lower.

Taiwan’s Taiex and Japan's Nikkei index suffered the biggest losses, plunging 2.44 percent and 2.21 percent, respectively.  Australia’s S&P/ASX 200 fell 1.60 percent, South Korea’s Kospi lost 1.07 percent, and China’s Shanghai Composite dropped 0.33 percent.  Hong Kong’s Hang Seng, however, saw gains, climbing 0.48 percent.

Meanwhile in Europe, markets were mostly trading higher ahead of Tuesday's close.

Copyright 2011 ABC News Radio

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