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U.S. Stocks Decline After China Shares Selloff on Growth Concern

Monday, July 27, 2015 8:35
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(Before It's News)

by Joseph Ciolli
Bloomberg.com

U.S. stocks fell, with equities headed for their longest losing streak since January, after the biggest slump in eight years for Chinese shares amid concern over the nation’s economic growth.

Apple Inc. slipped 1 percent, after its worst week in six months. Baidu Inc., China’s largest search engine, lost 3.4 percent. Alibaba Group Holding Ltd. retreated 2.9 percent. Energy shares dropped as oil sank. Teva Pharmaceutical Industries Ltd. surged 12 percent after agreeing to buy Allergan Plc’s generic-drug business for $40.5 billion. Allergan added 6.5 percent.

The Standards & Poor’s 500 Index slid 0.3 percent to 2,073.73 at 10:37 a.m. in New York, after falling as much as 0.8 percent. The Dow Jones Industrial Average lost 89.59 points, or 0.5 percent, to 17,478.94, trimming an earlier drop in half. The Nasdaq Composite Index fell 0.4 percent.

Continue Reading at Bloomberg.com…



Source: http://financialsurvivalnetwork.com/2015/07/u-s-stocks-decline-after-china-shares-selloff-on-growth-concern/?utm_source=rss&utm_medium=rss&utm_campaign=u-s-stocks-decline-after-china-shares-selloff-on-growth-concern

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