U.S. stocks lower as downbeat global economy news hits sentiment

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

U.S. stocks opened lower Tuesday, with dour economic news from China and Europe, along with news of more international oil supply cuts weighing on sentiment...

U.S. stocks opened lower Tuesday, with dour economic news from China and Europe, along with news of more international oil supply cuts weighing on sentiment after a long Labor Day weekend.

That starts with more disappointing news from the world’s second biggest economy. A Caixin survey showed China’s service sector expanded in August at its slowest pace in eight months, providing further evidence that the country’s post-pandemic recovery is faltering. “Sentiment has turned downbeat again on China as fresh brushstrokes are painted on the picture of its slowing economy,” said Susannah Streeter, head of money and markets, Hargreaves Lansdown.

“Oil prices have surged to reach new highs in 2023, a development poised to have significant repercussions on the upcoming August consumer price index reports…[which] presents a fresh challenge for central banks as they continue their diligent efforts to bring inflation levels back in line with their desired targets,” said Stephen Innes, managing partner at SPI Asset Management.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

5 things to know before the stock market opens TuesdayHere are the most important news items that investors need to start their trading day.
Source: NBCNewYork - 🏆 270. / 63 Read more »

Jim Cramer's top 10 things to watch in the stock market TuesdayArm Holdings' initial public offering pricing is expected in a range of $47 to $51 per share.
Source: CNBC - 🏆 12. / 72 Read more »