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U.S. Stocks Dive on Fresh Evidence of China Economic Slowdown
U.S. Stocks Dive on Fresh Evidence of China Economic Slowdown
U.S. Stocks Dive on Fresh Evidence of China Economic Slowdown. Fresh evidence of China’s slowing economy rocked U.S. stock markets Monday, setting off “violent New Year fireworks” that suggest global concerns will continue to buffet American investors in 2016. All major U.S. stock exchanges and indexes plunged before opening on news that Chinese factory activity shrank sharply in December, and remained well in the red on the first day of trading in the new year. Middle East tensions, which briefly pushed up oil prices, added to the angst on Wall Street. The Dow Jones industrial average briefly plunged more than 450 points before making a slight recovery. As of 11:15 a.m. ET, it was down more than 440 points, or more than 2.5 percent, and was on pace for its largest percent decline on the first trading day of the year since 1932. Ominously, that selloff continued until July 8, 1932, when the Dow bottomed out at 41.22 — its lowest level of the 20th century in the midst of the Great Depression. https://www.rt.com/business/327858-china-market-tumbles-opening/ http://www.nbcnews.com/business/markets/u-s-stocks-dive-fresh-evidence-china-economic-slowdown-n489741
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