Industrial Shares Hit Hardest As US Stocks Fall Across Board

U.S. stocks slid, pulling the Standard & Poor’s 500 Index down from a record, as a slowdown in Chinese exports fueled concern about global economic growth.

The S&P 500 declined less than 0.1 percent to 1,877.17 at 4 p.m. in New York, paring a drop of as much as 0.6 percent. The benchmark gauge is up 177 percent since reaching its bear-market low, which was five years ago yesterday. The Dow Jones Industrial Average slipped 34.04 points, or 0.2 percent, to 16,418.68 today. About 6 billion shares changed hands on U.S. exchanges, 10 percent lower than the three-month average.

“Chinese numbers gave the market an excuse to sell off,” Bruce Bittles, chief investment strategist at RW Baird & Co., said by telephone from Sarasota, Florida. His firm oversees $120 billion. “The markets did well last week considering the news backdrop was potentially threatening with the Ukraine and weak economic numbers, obviously not including the labor report.”


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu