China Stocks Plunge On Tightening Fears
Tweet
Share
E-mail
Stocks in China fell sharply on fears that the central bank with tighten more aggressively to deal with rising inflation. Concerns of a Irish default and Euro debt contagion also contributed to the weakness.
On Thursday, consumer prices in China came in hot at 4.4% for October, raising fears that inflation could begin spinning out of control.
The Shanghai Composite fell 5.2 percent. Other Asian markets were also under pressure, with the Hang Seng down 1.9%, the Nikkei 225 down 1.4%, and Straits Times is down 1.3%.
The weakness in Asia has spread to the U.S., with stocks futures lower across the board. The Dow is down 43, the Nasdaq 100 is down 12.5 and the S&P 500 is down 7.
On Thursday, consumer prices in China came in hot at 4.4% for October, raising fears that inflation could begin spinning out of control.
The Shanghai Composite fell 5.2 percent. Other Asian markets were also under pressure, with the Hang Seng down 1.9%, the Nikkei 225 down 1.4%, and Straits Times is down 1.3%.
The weakness in Asia has spread to the U.S., with stocks futures lower across the board. The Dow is down 43, the Nasdaq 100 is down 12.5 and the S&P 500 is down 7.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Amazon launches bond sale seeking at least $25 billion
- Meritage Homes (MTH) Reiterated at Market Outperform by Citizens as Stock Up 24% YTD
- Pool Corp (POOL) PT Raised to $235 at Stifel: Regains Modest Premium to Peers
Create E-mail Alert Related Categories
Market CheckRelated Entities
Standard & Poor'sSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
