Börse Express – New York Equities: Weak China data hampers recovery

NEW YORK (dpa-AFX) – After two weak days on the stock market, there was still no sign of recovery in New York stock trading on Wednesday. The industrial Dow Jones it started trading around the previous day’s level, but was more recently 0.25% lower at 33,512.60 points. Disappointing trade data from China weighed on mid-week.

For the entire S&P 500 market after half an hour of trading it fell 0.33% to 3928.13 points. Investors were a little more nervous on the Nasdaq, recently hit particularly hard by renewed interest rate concerns. After a relatively solid start, the Nasdaq 100 index turned negative, falling 0.77% to 11,461.32 points.

Chinese imports and exports fell sharply in November and fell short of expectations. In addition to high inflation, the effects of the zero-Covid policy have been a particular burden, noted IG Markets analyst Christian Henke. “The engine of growth, China, is losing steam,” said Henke. This fuels renewed concerns about the global economy./tih/mis

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AXC0211 2022-12-07/16:11

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