Markets Right Now: Stocks slip on economic growth worries
Posted Jan 22, 2019 10:44:03 AM.
This article is more than 5 years old.
NEW YORK — The latest on developments in financial markets (all times local):
9:35 a.m.
Stocks are slipping on Wall Street amid new signs the global economy is slowing. China said its economy is growing at the slowest pace in nearly three decades.
The International Monetary Fund on Tuesday cut its 2019 growth forecast, pointing to heightened trade tensions and rising interest rates.
Technology and industrial stocks declined. Micron Technology fell 2.9 per cent and Caterpillar lost 2.6 per cent.
eBay jumped 11 per cent after activist shareholder Elliott Management disclosed a 4 per cent stake in the company.
The S&P 500 fell 16 points, or 0.6 per cent, at 2,654.
The Dow Jones Industrial Average lost 159 points, or 0.7 per cent, at 24,539. The Nasdaq composite slid 50 points, or 0.7 per cent, at 7,104.
The Associated Press
