Growth Worries Send Stocks Lower

Wall Street led stock market falls across the globe Friday after data showed up weakness in the Chinese and eurozone economies, despite further indications Beijing and Washington may be moving to end their trade row.

Paris, (UrduPoint / Pakistan Point News - 14th Dec, 2018 ) :Wall Street led stock market falls across the globe Friday after data showed up weakness in the Chinese and eurozone economies, despite further indications Beijing and Washington may be moving to end their trade row.

Signs of easing tensions had helped propel equities higher earlier this week, with both China and the United States seeming to give key concessions, fuelling hopes they can eventually resolve their differences.

But data showing that the trade war is already having an impact on China -- consumer spending grew at its slowest pace in 15 years and factories eased up in November -- prompted equities investors there to take their gains off the table.

Rosier US retail and industrial data could not assuage fears that growth and the trade spat with Beijing will drag on sentiment and minutes after the opening bell the benchmark Dow Jones Industrial Average was down one percent at 24,346.

92.

The S&P 500 slumped 0.9 percent and the tech-heavy Nasdaq lost 1.3 percent.

"Investors were spooked by the largely disappointing numbers, and there was a sell-off in Asian markets," said market analyst David Madden.

Tokyo finished two percent lower following a survey of confidence among Japan's big businesses showed they remain cautious about the global outlook and Hong Kong and Shanghai both lost around 1.5 percent.

In Europe, a survey showed that Global trade war fears and disruptions caused by anti-government protests in France pushed business growth in the eurozone to a four-year low in December.