Monday, August 8News That Matters
Shadow

Tag: gloom

US stocks fall as China fears trigger gloom

US stocks fall as China fears trigger gloom

Business
Shares on Wall Street sank deeper on Thursday after Apple said weak sales in China had hurt its business, stoking wider concerns over trade tensions and economic slowdown.A revenue warning from a major airline, as well as some data showing declines in US car sales and manufacturing activity last month added to the gloom.The Nasdaq plunged 3%, the Dow tumbled 2.8% and the S&P 500 fell 2.5%.Apple was the biggest loser on the Dow, plunging almost 10%.The declines added to the losses that have rocked markets in recent months.Investors are trying to gauge the effects on companies of rising interest rates, trade tensions and signs of economic slowdown - especially in China, the world's second largest economy."The story here is that the trade war, coupled wi...