The Chinese side steps toppled the DJIA, Bank of America (NYSE: BAC), Home Depot (NYSE: HD) and Cisco Systems (NASDAQ: CSCO)

Dow Jones Industrial Average falls on the background of the Chinese economic slowdown

In brief: Bank of America Corporation (NYSE: BAC), The Home Depot, Inc. (NYSE: HD), Bank of America Corporation (NYSE: BAC) and The Dow Jones Industrial lose in price due to China's problems.

The Bank of America Corporation (NYSE: BAC) is 13.65 points, losing -0.26 (-1.83%) with the auction. The Home Depot, Inc. (NYSE: HD) dropped to 28.07, losing -0.63 points (-2.20%). Cisco Systems (NASDAQ: CSCO) went up to 24.23 points, giving the bears -2.18%. The Dow Jones Industrial dropped to -114.97 (-1.07%), descended to 10,583.78 points.

U.S. stock market shows moderate negative dynamics led to the commodity sector in the second half of the trading session. The published statistics for China today gave a hint of a cooling economy – the volume of imports in July slowed the growth of 34,1% y / y to 22.7%, while the expected increase in imports by 30%. Exports also slowed the pace of growth, although not as strongly as expected. This trade surplus reached a 18-month peak, which adds to the reasons for the pressure on China in terms of the appreciation of the yuan. There are reports that real estate prices in 70 major Chinese cities in July increased by 10,3% y / y, ie minimum of six months. Macro statistics published today by the United States also played in favor of the bears – labor productivity in the second quarter against expectations declined, wholesale sales for June decreased by 0.7% in the growth forecast to 0.5%, while supplies wholesalers grew weaker expectations, reflecting the slowdown active consumers and retailers.

Igor Tringlers
2010-08-10 18:00, Economics.

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