Wall Street drops to lowest levels in four weeks on China trade

Wall Street closed at the lowest levels in four weeks on the back of concerns over weak global demand.

China's September trade report offered a worrying 10% fall in their exports, sparking concerns over weak global demand. Treasury yields were lower as well while investors seeked out safety in government bonds and the yen. The 30-year yield dropped 3.3 basis points to 2.472% from 2.457%.

The S&P 500 index lost 6.63 points, or 0.3%, to 2,132.55 while the Dow Jones Industrial Average fell 45.26 points, or 0.3%, to 18,098.94 and the lowest close since September 26th. The Nasdaq Composite Index dropped 25.69 points, or 0.5%, to 5,213.33. Financial stocks were the worst performers while investors unloaded those stocks ahead of earnings reports from the banking community tomorrow with Citigroup, J.P. Morgan Chase&Co. and Wells Fargo reporting.