Wall St. falls more than 1 percent on global growth fears
- 9 years ago
U.S. stock indexes fell 1 percent in late morning trading on Monday, their biggest fall in six weeks, as weak Chinese trade data and a cut in the OECD's global growth forecast sparked fears about a global economic slowdown.
The selloff was broad based, with all the 10 major S&P sectors in the red, led by a decline in consumer discretionary and energy stocks.
Data from China, one of the one of the U.S.'s biggest trade partners, showed a fall in exports and imports in October left it with a record high trade surplus.
U.S. stocks have largely brushed off concerns about the global economy and have ended higher for six weeks in a row, buoyed by better-than-expected corporate results and signs of a strengthening domestic economy.
The selloff was broad based, with all the 10 major S&P sectors in the red, led by a decline in consumer discretionary and energy stocks.
Data from China, one of the one of the U.S.'s biggest trade partners, showed a fall in exports and imports in October left it with a record high trade surplus.
U.S. stocks have largely brushed off concerns about the global economy and have ended higher for six weeks in a row, buoyed by better-than-expected corporate results and signs of a strengthening domestic economy.