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Asian stocks sink after Wall Street declines


Added 04-18-19 02:04:01am EST - “Asian stocks fell Thursday after Wall Street declined despite encouraging Chinese economic data.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Asian stocks sink after Wall Street declines”. Below is an excerpt from the article.

Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, April 18, 2019. Asian stocks fell Thursday after Wall Street declined despite encouraging Chinese economic data. (AP Photo/Ahn Young-joon)

U.S. stocks fell despite data showing Chinese gross domestic product growth held steady in the latest quarter in the face of a tariff war with Washington and consumer spending accelerated.

"The surprisingly robust China GDP data failed to ignite a rally on Wall Street as U.S. investors turn focus to domestic concerns," Stephen Innes of SPI Asset Management said in a report. He said investors are "increasingly cautious" about possibly misreading economic signals.

Wall Street's slide was led by health care stocks. Investors fear the potential impact on profits from reform ideas being discussed in Washington and on the presidential campaign trail.

Qualcomm led gains in the technology sector. Intel climbed after pulling out of the smartphone modem market. T-Mobile and Sprint slumped on reports the Justice Department is questioning their proposed merger.

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