Stocks closed off their worse levels of the session, but
remained in negative territory as bearish Chinese economic data
rekindled worries about slowing global growth. The 18% drop in
exports, which turned a $32 billion surplus into a $23 billion
deficit for China last month, reverberated through global equity
markets, pressuring Asian equities and commodity-related stocks
before spilling into Europe and the U.S. The S&P 500 dropped
for the first time in three days.
In corporate news, Boeing (
) was the biggest loser among Dow Components on worries about
cracks on its 787 Dreamliner, as well as on uncertainty as to what
caused the Boeing 777 Malaysian Airline flight to disappear. Mining
stocks like Freeport McMoRan (
), Southern Copper (
) and Cliffs Natural Resources (
) were all undermined by jitters surrounding the Chinese economy
and the possible implications on imports of industrial metals.
There was no economic news from the U.S.
Here's where the markets stand at the close:
Dow Jones Industrial Index was down 34 points (0.2%) to
S&P 500 was down less than a point (0.05%) to 1,877
Nasdaq Composite Index was down 1.8 points (0.04%) to 4,334
FTSE 100 was down 0.35%
Nikkei 225 was down 1.01%
Hang Seng Index was down 1.75%
Shanghai China Composite Index was down 2.86%
ROSG (+16.38%) Positive Seeking Alpha article from Friday
continues to generate demand
NWBO (+29.70%) Received regulatory approvals from German
authorities for its DCVax-L treatment for glioma brain cancers.
MONT (+20.40%) Shanghai Pudong Science and Technology Investment
Co Ltd. has made a $21.5 per share non-binding cash bid for the
CQB (+10.70%) Agreed to merge with Ireland's Fyffes Plc in a
WLT (-9.76%) Negotiating an amendment to its credit facility
HILL (-12.80%) GDPInsider.com says the company is being
aggressive with forward looking guidance following Q4 earnings
released last Thursday.
BSPM (-19.19%) Will sell 1,650,000 shares of common stock in a
registered direct offering at $2.49 per share.
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