U.S. Stock Market Can Withstand Other Countries’ Problems

(Before It's News)

Troubling news out of China and Greece will likely have few ramifications

by Howard Gold
Market Watch

Early Tuesday, U.S. stocks were hit by a one-two punch — a right cross from China and a left hook from Greece. But by the end of the day, they recovered most of their losses.

First, China’s Shanghai Composite index, which has been on a tear recently, tumbled over 5% overnight, on news that regulators tightened rules for lending and November export growth was weaker than expected.

Then, Greece (remember them?) saw its stock market plunge 10%, in the worst one-day fall since the 1987 crash after the government announced presidential elections will be held next week. That may lead to new parliamentary elections that could bring the far-left Syriza coalition to power.

Asian and European markets fell in sympathy, and at first the Dow Jones Industrial Average and the S&P 500 Index posted big losses, following modest declines Monday.

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