Home Business NewsWall Street falls at open amid global slowdown fears

Wall Street falls at open amid global slowdown fears

by Purvai Dua
2nd Jan 19 4:34 pm

Just like the Asian and European stocks earlier today, the Wall Street shares have also fallen on open amid fear of a global economic slowdown.

Tech stocks Microsoft and Apple were under pressure, both down around 1.3 per cent, while Tesla fell eight per cent after cutting prices of its vehicles by $2,000.

The Dow Jones Industrial Average is now 351.9 points or 1.5% down to 22,975.52. Oil and gas giant ExxonMobil tops the losers, with its price flat at $68.19. Media reports say the firm is on track to have its worst annual performance since 1981.

The S&P 500 is flat – just 21.1 points or 0.9% ahead to 2,506.85. Top of the winners is the Cboe Options Exchange, which rose 1.6% to $97.65.

โ€œStock markets didnโ€™t get the memo that weโ€™re supposed to start the new year with a positive attitude towards being fit and healthy,โ€ said Russ Mould, investment director at AJ Bell.

โ€œA slowdown in Chinaโ€™s manufacturing sector hurt stocks in Asia and also added to investor concerns about a global economic slowdown in 2019, leading to weakness across European markets.โ€

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