Dow falls over 200 pts amid China worries

Markets 1/14/2019, 3:30 PM
Dow falls over 200 pts amid China worries

Markets on Wall Street started the trading session in the red on Monday amid heightened worries about the economic slowdown in China. The second biggest economy in the world reported a drop in its foreign trade surplus, at $351.7 billion, the lowest figure since 2013. In the US, the longest ever government shutdown continued to its 24th day. Meanwhile, the earnings season started with Citi Group reporting a 122% annual increase in diluted earnings per share, while the company's revenue declined by 2% from the last quarter of 2017.

The Dow Jones Industrial Average index dropped 0.94%, or 226 points, at 9:34 am ET. Caterpillar and Apple contracted by 2.06% and 1.37%, respectively.

The Nasdaq 100 was down 1.25% shortly after trading started. Western Digital Corporation tumbled 9.07%. Chinese online retailer JD.com was the second-worst performer, losing 5.17%.

The S&P 500 lost 0.99%. PG&E plummeted 48.89%, after the company announced it will file for bankruptcy

The euro traded flat against the dollar, selling for $1.14600 at 9:32 am ET.

Breaking the News / NI

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