US stocks fell on Thursday, with the Dow Jones industrial average recording its third consecutive day of losses, as risky assets sold off in the wake of disappointing manufacturing data in China.
Financials and materials stocks were the day's biggest losers while telecom was the only positive sector as investors sold growth-oriented stocks and bought defensive ones.
The Dow fell just over 1 percent, to 16,197.35.
The market sentiment was dented by a report on manufacturing in China that showed a mild slowdown at the end of 2013 in the world's second-largest economy had continued into the new year.
US-traded Chinese stocks were down sharply after a Securities and Exchange Commission judge ruled that the Chinese units of the world's top accounting firms should be suspended from auditing those companies.
Among the biggest losers were Internet services provider Baidu, down 6.2 percent, and SINA, down 5.9 percent, on heavier-than-usual volume.
"The day's panic was largely associated with China and I think it's a temporary reaction," said Randy Frederick, managing director of active trading and derivatives at Charles Schwab in Austin, Texas.
"If we have good corporate earnings from a couple of big names or good economic reports, I think we will be right back up to where we were a couple days ago."
Anda sedang membaca artikel tentang
Markets fall for third straight day
Dengan url
http://makananrasaenak.blogspot.com/2014/01/markets-fall-for-third-straight-day.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Markets fall for third straight day
namun jangan lupa untuk meletakkan link
Markets fall for third straight day
sebagai sumbernya
0 komentar:
Posting Komentar