China’s Slowdown Casts a Shadow
China’s economic slowdown and financial mayhem are fostering a cycle of decline and panic across much of the world, as countries on nearly every continent see escalating risks of prolonged slumps, political disruption and financial losses. South Africa’s currency, the rand, plunged on Monday after stocks once again sold off in China, which is the country’s largest trading partner. South Africa’s economy — like that of many countries...
U.S. Markets Plunge After China Sell-Off
Washington — Stocks on U.S. exchanges plunged Monday in the wake of an overnight sell-off in China that was triggered by fears of a weakening global economy and heightened Middle East tensions. The Dow Jones industrial average fell more than 450 points before recovering somewhat to close down 276.09 points, or about 1.6 percent, at 17,148.94. The Standard & Poor’s 500 index closed down 1.5 percent while the technology heavy...
A Holiday That Shows the ‘Power of Chinese Consumption’
In just a few years, Nov. 11 has become the busiest online shopping day on Earth. It is known as Singles Day in China, an event in which online retailers offer massive promotions and shoppers happily gobble up the bait. Some have called it “a 24-hour orgy of consumption.” The informal holiday was started as a joke by a group of Chinese college kids in the 1990s, a kind of anti-Valentine’s Day to commiserate over breakfast about their...
S&P Ends Up 8.3% For the Month
New York — U.S. stocks faded late in October’s final session, paring the strongest monthly gain since 2011 as financial and consumer staples shares retreated. The S&P 500 declined 0.5 percent to 2079.36, with the gauge up 8.3 percent for the month. Stocks are also extended to five their longest streak of weekly advances this year. The Dow Jones industrial average closed at 17,663.54, up 16.84 for the week. “Recent Fed comments...
Economists: Beware New U.S. Recession
Confronted with disappointing data from around the world, economists are whispering a word that hasn’t seemed like a real possibility in years: recession. It starts with the slowdown in China, which is already straining the global recovery. The world’s second-largest economy has lost its appetite for the raw materials that fueled its industrial boom, leaving the smaller countries that supplied it with resources stumbling in its wake....
