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The Closing Bell: U.S. Stocks Slip on Signs Of Slowing Economic Growth
FYI: U.S. stocks fell Monday after worse-than-expected Chinese economic data added to mounting signs of slowing economic growth around the world.
The Dow Jones Industrial Average lost 86 points, or 0.36%, to 23,908, paring earlier declines. The S&P 500 fell 0.53% and the Nasdaq Composite declined 0.94%.
Data early Monday showed China’s exports and imports both fell in December from a year ago as the impact of U.S. tariffs started to kick in and demand weakened.
The figures were the latest sign that the world’s second-largest economy is slowing. While many investors believe the U.S. economy remains on relatively strong footing, nervousness around the slowdown in global growth has kept stocks under pressure.
The S&P 500 is up for the year, but still around 11% below its record after a steep selloff in the final months of 2018. Markets have been volatile in recent weeks, with U.S. stocks coming close to a bear market in December, only to rebound as investors grew hopeful about progress in the U.S. and China’s trade negotations.
Only one of the eleven S&P 500 Sectors opened the week's trading on a positive note was Financials. Regards, Ted
