US stocks stabilise on sales data | Sky News Australia

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New York shares have stabilized with the Dow opening slightly higher after strong United States retail sales figures for July.

It's after a bleak day on Wall Street, which saw stocks suffer their worst day so far this year. The Dow Jones tumbled by 800 points - or 3 per cent - as investors worried about signs of a possible recession.

Concerns about the global outlook have been stoked by the US-China trade war. Meanwhile, President Donald Trump lashed out at the 'fake news media' following Wednesday’s volatility. Mr Trump hit out at journalists on Twitter, blaming the media for attempting to 'crash the economy' to jeopordise his re-election hopes.

 

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