Stocks fell at the opening bell Tuesday as investors react to an earnings miss from retail giant Walmart(WMT) and another bout of turbulence in China's equity market.
Also weighing on sentiment was a 6.2% drop suffered by China's Shanghai composite index, a volatile index that fell more than 8.5% in a single day a few weeks ago. "Chinese stocks are down today following concerns that the Chinese authorities may be less supportive of share prices," Barclays told clients in an early-morning research note.
Keep an eye on the Chinese market, government, etc.
http://www.usatoday.com/story/money/markets/2015/08/18/china-stocks-shanghai-composite/31897451/
BEIJING — China's
The mainland China stock benchmark's 6.2% drop to 3,748.16 was its biggest decline in three weeks. The index fell 8.5% in late July as worries about China's ability to maintain high economic growth levels undermined investor confidence.
Last week, Chinese stocks sold off following a dramatic devaluation of its yuan currency that led to the nation's central bank injecting cash into the financial system.
Analysts said the immediate cause of Tuesday's sharp sell-off was a delayed reaction to a Friday statement by China's market regulator.
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