😎 Summer Sale Exclusive - Up to 50% off AI-powered stock picks by InvestingProCLAIM SALE

U.S. stocks are falling after China protests spark growth worries

Published 2022/11/28, 17:18
© Reuters.

By Liz Moyer 

Investing.com -- U.S. stocks were falling in early trading as unrest in China sparked by protests against strict COVID-19 containment policies ignited worries about global growth.

At 9:49 ET (14:49 GMT), the Dow Jones Industrial Average was down 124 points or 0.4%, while the S&P 500 was down 0.5%, and the NASDAQ Composite was down 0.3%.

Protestors took to the streets across China over the weekend in clashes over strict lockdowns to contain the spread of the virus. Disruptions from protests and lockdowns could have ripple effects through the manufacturing sector there. Apple Inc. (NASDAQ:AAPL) shares fell 1.4% after a report that production shortfalls for its iPhone Pro will follow disruptions at the Foxconn (TW:2354) plant in Zhengzhou.

Retail stocks were getting a boost from a busy holiday shopping weekend in the U.S., where consumers pushed Black Friday sales to a record and where today's Cyber Monday sales are also expected to reach into the billions. Walmart Inc. (NYSE:WMT) shares rose 0.4%, and Target Corporation (NYSE:TGT) shares rose 1.2%. Amazon.com, Inc. (NASDAQ:AMZN) rose 2%.

It's a week filled with economic data reports, including the latest on job openings and private payrolls on Wednesday and the government's November jobs report on Friday. Also, investors will see another estimate for third quarter gross domestic product and personal consumption and spending data.

Oil was falling. Crude Oil WTI Futures was down 1.9% to $74.75 a barrel, while Brent Oil Futures crude was down 2% to $82 a barrel. Gold Futures slipped 0.4% to $1746.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.