S&P 500 Slips as China Trade Data Weighs

The Economic Times - - Money -

US stocks de­clined as weak Chi­nese trade data spurred con­cerns about slow­ing global growth. Trea­suries pared gains and the dol­lar dropped.

The S&P 500 fell for a sec­ond ses­sion, led by tech­nol­ogy shares af­ter slump­ing Chi­nese ex­ports fueled wor­ries about the grow­ing im­pact of the US-China trade war on world­wide growth. PG&E plunged af­ter the util­ity said it will file for bank­ruptcy in Cal­i­for­nia and its chief ex­ec­u­tive of­fi­cer will exit.

Cit­i­group ad­vanced af­ter re­port­ing earn­ings, help­ing to lift banks.

The 10-year Trea­sury yield was steady, while the dol­lar fell against most peers. In Europe, the Stoxx Europe 600 In­dex snapped four days of gains, dragged lower by tech com­pa­nies.

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