Wall St. Slides After Chinese Stocks Plunge
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A worker at the Youfa steel pipe plant in Tangshan, Hebei Province. Global markets tumbled Monday after China released a weak manufacturing report. CreditKim Kyung-Hoon/Reuters
On the first trading day of the new year, investors’ old worries flooded back.
Global stock markets tumbled on Monday, as further fears about a slowdown in China’s economy reignited concerns about global growth.
The selling on Monday started after China released a weak manufacturing report, and continued after the United States did the same. Chinese stocks lost nearly 7 percent of their value, although they appeared to stabilize Tuesday morning. The Standard & Poor’s 500-stock index, the main benchmark for the United States stock market, posted a decline of 1.5 percent, while European stocks also fell…
Wall St. Slides After Chinese Stocks Plunge
