US stocks drop on weak China, Japan data

GMT 15:48 2014 Monday ,08 December

Arab Today, arab today US stocks drop on weak China, Japan data

Dow Jones Industrial Average stood
New York - AFP

US stocks retreated from record highs in opening trade Monday, following European markets downward after weak economic data from China and Japan.
Five minutes into trade, the Dow Jones Industrial Average stood at 17,927.52, down 31.27 points (0.17 percent).
The broad-based S&P 500 fell 4.57 (0.22 percent) to 2,070.80, while the tech-rich Nasdaq Composite Index lost 6.77 (0.14 percent) at 4,773.98.
Data from the world's second- and third-biggest economies disappointed.
Chinese trade data showed exports increased in November by less than expected, while imports unexpectedly dropped, pushing the trade surplus to a record $54.47 billion.
Japanese data showed third-quarter economic growth fell 0.5 percent quarter-on-quarter, worse than the 0.4 percent shrinkage previously estimated.


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