Home China Headline Wall Street to open down after China shares plunge

Wall Street to open down after China shares plunge

Wall Street is set to open down on Tuesday with investors jittery after shares plunged in China and awaiting key clues about the strength of U.S. consumption from economic data and corporate earnings. U.S. stocks could be ruffled if funds start to pull money out of emerging market equities after the Shanghai Composite Index fell nearly nine percent, its steepest decline in a decade. Another concern for investors will be oil prices, which have knocked Wall Street over the last week and remain above $61 on Tuesday on forecasts for a drop in U.S. fuel stocks and escalating Iran nuclear tensions. "This should be a warning shot across the bow that if you haven't taken some profits, you might want to do that," said Steve Previs of Jefferies International. 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.

 

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