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February 27, 2007

Wall Street Takes A Hit As Chinese Market Stumbles

From the NYT:

Stocks plunged in New York today after a sell-off in China rattled markets worldwide and surprisingly weak economic data fanned fears that the economy may be more vulnerable to a downturn than widely thought.

A wide sell-off had pushed the benchmark Standard and Poor’s 500 stock index and the Dow Jones industrial average down around 1 percent for most of the trading day. But minutes before 3 p.m., stock prices plummeted, sending the Dow briefly down more than 500 points, or 4 percent. The S&P also fell about 4 percent at the same time.


Posted by Becky at February 27, 2007 2:50 PM Posted to Business News | International | Investments/Finance | Political Ecomony