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Stock futures plunge to start the year on weak China data


Added 01-02-19 04:04:01am EST - “The concern is about data that continues to show a slowdown in China.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Stock futures plunge to start the year on weak China data”. Below is an excerpt from the article.

Equity futures will begin the new trading year in the hole on concerns about China’s and overall global growth.

Dow Jones futures were falling by 400 points or 2 percent. The S&P 500 also fell 2 percent and the Nasdaq Composite dropped 2 percent.

That country’s factory activity contracted for the first time in over two years in December, highlighting the challenges facing Beijing as it seeks to end a bruising trade war with Washington and reduce the risk of a sharper economic slowdown in 2019.

In European trading, London’s FTSE opened down 1.6 percent, Germany’s DAX declined 0.8 percent and France’s CAC was off 1.9 percent.

U.S. Federal Reserve Chairman Jerome Powell will have the chance to comment on the economic outlook when he participates in a joint discussion with former Fed chairs Janet Yellen and Ben Bernanke on Friday.

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