U.S. Stocks Lower on Reaction to Chinese Trade Data

U.S. Stocks Lower on Reaction to Chinese Trade Data
Business
Like Us On Facebook
Like Us On Facebook

U.S. stocks opened lower on Friday in reaction to Thursday’s news of China’s trade data for July. A miss on Chinese exports increases fears of a global economic slowdown.

Chinese exports were up a sluggish year-on-year 1% for July, compared to the 11.3% growth in June.

Speculation of the ramifications of this data have cause the Street to slide, with many concerned with its effect on the greater picture. Nick Sargen, the chief investment officer at Fort Washington Investment Advisors in Cincinnati summed it up, saying

China is slowing down, Europe is in a recession. Everybody realizes that we’re on a tough situation. The question is — can it get weaker or not?”

This is some somber news to close the week, a week which was filled with great news until today.

Elite.

Share Tweet
React
Like Us On Facebook
Like Us On Facebook

Robert Gordon

Hailing from Queens, New York, Robert Gordon can be found running the World News section of Elite Daily or roaming NYC on photographic expeditions. A diehard sports fan who’s had his heart constantly broken by the Knicks and Mets, Robert can be seen donning orange and blue attire all throughout the city. Under the moniker Robbie Fingers, he creates visuals from music videos, to short films with his partner, ManuallFocus.

More In Business

News Sean Levinson

Even Tobacco Companies Are Telling Employees To Not Smoke Cigarettes

The second-largest cigarette maker in the country has finally caved to health concerns and will begin to prohibit smoking in its offices. The Washington Post reports that Reynolds American Inc., makers of Camel, Kool and Pall Mall cigarettes, will not allow the use of cigarettes, cigars or pipes in its hallways and elevators as of […]

Also On Elite

LOL Lists

16 Shameless Babies Who Can’t Stop Staring At Boobs (Photos)

There’s nothing wrong with having a “sophisticated” sense of humor, but just because you can understand more complex jokes and obscure references doesn’t mean you should suddenly stop appreciating the more sophomoric things you come across. There’s a reason I don’t trust people who don’t think farts are funny: They’ve lost the ability to appreciate […]

Dating

The Difference Between Dating A Guy And Just Liking The Idea Of Him

Sometimes we like a person, and sometimes we like the idea of a person. The two do not always end up being the same. Many can recall the popular romantic comedy of the late 80s, “When Harry Met Sally,” which is centered on Harry’s relationship with Sally. The premise of the film begs the fundamental question of whether […]

News

Trader’s Terrible Mistake Causes $617 Billion In Stock Trades To Be Cancelled

Imagine accidentally spending $617 billion in an instant. Now, imagine that everyone knows about it. On Wednesday, a Japanese trader ordered billions of dollars in over-the-counter market shares. Then, he or she cancelled it. The Japan Securities Dealers Association (JSDA) is still scrambling to understand how the erroneous orders occurred but does not think it will be […]

Technology

Astrologer Says Mercury Retrograde Is Going To Mess Up Your New iPhone

One of the world’s most prominent astrologists is claiming that due to the current behavior of the planet Mercury, buying an iPhone 6 over the next few weeks will lead to disappointment. Time spoke with Susan Miller, founder of Astrology Zone, about why she believes it’s not a good idea to buy a new iPhone […]

World

The Mexican Drug War Has Killed More Americans Than ISIS Or Ebola Ever Could

In recent weeks, much of America’s attention has been directed towards the Islamic State of Iraq and the Levant (ISIS or ISIL) and Ebola. ISIS shocked and enraged the world when it began broadcasting videos of the beheadings of American and British journalists. Likewise, the rapid spread of Ebola across West Africa and its eventual […]

World

Mom Arrested After 4-Year-Old Daughter Passes Out 249 Bags Of Heroin At Daycare

A Delaware mother-of-three was arrested on Monday after her 4-year-old daughter was seen handing out bags of heroin at daycare. According to WBOC, police say the young girl’s original backpack was torn up by a family pet the night before and was replaced with another that contained 249 bags, or 3.7 grams, of heroin. The […]