Tough Start to 2019 for Stocks After Weak Data from China
A government survey and one by a major business magazine showed Chinese manufacturing weakened in December as global and domestic demand both cooled. That weighed on big exporters Wednesday, with technology companies like Microsoft and
The major
From September through the end of December, investors became more and more worried that challenges including
The S&P 500 index fell 30 points, or 1.2 percent, to 2,476 as of . The Dow fell 311 points, or 1.3 percent, to 23,023. The Nasdaq composite dropped 96 points, or 1.5 percent, to 6,538.
The Russell 2000 index, which tracks smaller companies, shed 20 points, or 1.5 percent, to 1,327. Most markets were closed on Tuesday for the holiday.
Prices on long-term government bonds rose, a sign investors had concerns about economic growth and were looking for safer options. The yield on the 10-year Treasury note fell to 2.65 percent from 2.69 percent. The yield on the 2-year Treasury note fell to 2.48 percent from 2.49 percent.
Among technology companies, Microsoft gave up 1.9 percent to $99.60 and
Benchmark
All 11 of the stock groups that make up the S&P 500 were lower Wednesday morning. All but two of them finished last year with losses, as health care and utility companies made small gains.
Electric car maker
The dollar fell to 109.31 yen from 109.61 yen. The euro fell to $1.1369 from $1.1445. The British pound slid to $1.2602 from $1.2752.
AP Markets Writer Marley Jay can be reached at http://twitter.com/MarleyJayAP