Stock Futures Fall After Weak China Growth Data

The Wall Street Journal2021-10-18

China’s economy grew 4.9% in the third quarter from a year earlier, slowing sharply from the previous period. U.S. stock futures edged lower after data showed that China’s economic growth slowed ...

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andrew123
2021-10-19
andrew123
Like n comment
Samwich
2021-10-18
Samwich
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- gl8089:
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AxieMan
2021-10-18
AxieMan
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2021-10-18
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Contracts for the tech-focused Nasdaq-100 fell 0.3% and futures for the Dow Jones Industrial Average edged 0.2% lower.\nData out Monday showed China’s economy grew 4.9% in the third quarter from a year prior, a slowdown from the second quarter’s 7.9% rate. Power shortages and supply-chain problems added to the impact of Beijing’s efforts to rein in its property and technology sectors.\nThe slower growth data are “a reminder that China is expected to lose some of its momentum, but also how these global issues like the energy crisis and supply chain issues will filter through to global growth,” said Edward Park, chief investment officer at U.K. investment firm Brooks Macdonald. “There’s just a bit of rebasing of expectations for China and the rest of the world.”\nMajor indexes in Asia closed slightly lower. China’s Shanghai Composite was down 0.1%, while the CSI 300 index of large stocks listed in either Shanghai or Shenzhen closed 1.2% lower. 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