Stocks move lower on discouraging news from Asia

Stocks move lower on discouraging news from Asia


1 photo
Save Story
Leer en español

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

U.S. stocks are moving lower in midday trading following disappointing economic news from China and Japan.

The Standard & Poor's 500 index fell five points, or 0.3 percent, to 1,872 as of noon Eastern time Monday.

The Dow Jones industrial average lost 76 points, or 0.5 percent, to 16,375. The Nasdaq composite fell 11 points, or 0.3 percent, to 4,324.

Investors were discouraged by an 18 percent slump in Chinese exports last month, the latest sign of trouble for the world's second-largest economy. Japan lowered its estimate for fourth-quarter economic growth.

In the U.S., Chiquita Brands jumped 12 percent after announcing it had agreed to combine with an Irish fruit supply company.

In bond trading, the yield on the 10-year Treasury note held steady at 2.79 percent.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Photos

Most recent Business stories

Related topics

Business
The Associated Press

    STAY IN THE KNOW

    Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the KSL.com Trending 5.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast