Wall Street ended a wobbly day of trading with more losses Wednesday, as a slide in technology companies helped pull stocks lower and Treasury yields fell broadly. The S&P 500 slipped 0.2 percent, its fifth straight loss. The Nasdaq composite, which is heavily weighted with tech stocks, fell 0.5 percent, while the Dow Jones Industrial…
Factory Slump Drags UK Economic Growth to 18-month Low
UK private sector growth has slowed to a new 18-month low after factories were hit by “waning customer demand”, according to new data. The closely followed S&P Global/CIPS flash UK composite purchasing managers index (PMI) report showed a reading of 50.9 for August, declining from 52.1 last month. Anything above 50 is considered growth. It…
China Auto Industry Cuts 2022 Outlook as Commercial Demand Slumps
SHANGHAI—A slump in commercial-vehicle demand led China’s automobile industry association on Monday to downgrade its sales forecast, as anti-pandemic measures weighed on the economy and its car market, the world’s largest. The industry will sell 27 million cars this year, up 3 percent on 2021, the China Association of Automobile Manufacturers forecast, cutting its outlook…
US Auto Sales Slump as Less Affluent Buyers Walk Away
U.S. new vehicle sales could fall to the lowest first-quarter volume in the past decade as chip shortages and the Ukraine crisis squeeze inventories and rising prices push less affluent buyers out of the market, research firm Cox Automotive said Monday. U.S. car and light truck sales are expected to fall more than 24 percent…
Stocks Rise After 3-Day Slump Over Virus, Inflation Worries
Stocks are rising on Wall Street Tuesday after three days of losses brought on by worries over the spread of the omicron variant and lingering concerns about rising inflation. The S&P 500 index rose 1.7 percent as of 2:51 p.m. Eastern. The Nasdaq rose 2.3 percent. Both indexes were boosted by solid gains for technology…
China Evergrande Bonds Suspended as Prices Slump
SHANGHAI—Bonds issued by heavily indebted developer China Evergrande Group plunged on Monday over growing investor worries about the company’s ability to pay its debts, prompting China’s stock exchanges to halt trading. The Shanghai Stock Exchange said in a statement that it had temporarily suspended trading in China Evergrande Group’s 6.98 percent July 2022 corporate bond…
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