Arab Today, arab today us stocks dip on weak data from china japan
Last Updated : GMT 02:18:28
Arab Today, arab today
Arab Today, arab today

US stocks dip on weak data from China, Japan

Arab Today, arab today

Arab Today, arab today US stocks dip on weak data from China, Japan

New York - AFP

US stocks slipped on Monday as weak economic data from China and Japan pushed most equity international markets lower. At the closing bell, the Dow Jones Industrial Average fell 33.43 (0.20 percent) to 16,419.29. The broad-based S&P 500 shed 0.86 (0.05 percent) to 1,877.18, while the tech-rich Nasdaq Composite Index gave up 1.77 (0.04 percent) to 4,334.44. Earlier Asian and European markets lost ground after China reported  weak inflation data and a $23.0 billion trade deficit in February, while analysts had forecast an $11.9 billion surplus. "Markets are retreating on the weak Chinese exports data, which is consistent with our view that the China economy is slowing," said Jack Ablin, chief investment officer at BMO Private Bank. Meanwhile Japan said its economy grew more slowly in the fourth quarter, 0.2 percent, than the previously reported 0.3 percent. Michael James, managing director of equity trading at Wedbush Securities, said profit-taking was also a factor following  gains since early February. "Stocks have had a pretty good move," James said. "Traders were kind of positioned to take profits."

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