Home China Headline Indexes sink on China, economic concerns

Indexes sink on China, economic concerns

U.S. stocks tumbled on Tuesday after a weaker-than-expected economic report and a sharp fall in China's main stock index unnerved investors after two consecutive days of Wall Street losses. The Dow, Standard & Poor's 500 index and the Nasdaq composite were off more than 1 percent as stock markets fell around the world after China's Shanghai Composite dropped almost 9 percent, its biggest decline in a decade. The rout came amid fears that Chinese authorities would crack down on stock market speculation. Shares of heavy equipment maker Caterpillar Inc, which does extensive business in China, were the top loser on the Dow, falling 3.1 percent to $65.16. "We've got a bit of a fall-out from China," said Paul Nolte, director of investments at Hinsdale Associates in Hinsdale, Illinois. "We've been very complacent all along, and we'll see whether this is the beginning of true correction or whether its a one-day sell-off." Trackback(0) TrackBack URI for this entry Comments (0) Subscribe to this comment's feed Show/Hide comments Write comment Show/Hide comment form Name Email Website Title Comment Write the displayed characters Add Comment Copyright 2007. All Rights Reserved.

 

< Prev		Next >