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| Global Stocks Drop Amid a Worsening Economic Outlook in China | Global Stocks Drop Amid a Worsening Economic Outlook in China |
| (35 minutes later) | |
| Stocks fell on Friday as another week of volatile trading came to a close with uncertainty over the health of the global economy and the impact of the trade war continuing to grip financial markets. | Stocks fell on Friday as another week of volatile trading came to a close with uncertainty over the health of the global economy and the impact of the trade war continuing to grip financial markets. |
| Wall Street was lower in early trading and markets across Asia and Europe also tumbled. Data on China’s retail sales and industrial output showed that the country’s slowdown deepened in November. Friday’s data came just days after weaker-than-expected trade figures were also released by the world’s second largest economy. | Wall Street was lower in early trading and markets across Asia and Europe also tumbled. Data on China’s retail sales and industrial output showed that the country’s slowdown deepened in November. Friday’s data came just days after weaker-than-expected trade figures were also released by the world’s second largest economy. |
| Stocks were buoyed earlier this week by signs of a thaw between China and the United States that suggested Beijing and Washington are making progress toward a trade deal. That thaw continued on Friday, with China pledging to cut tariffs on auto imports starting in the new year. Automakers’ shares rose Friday on the news. | |
| But more broadly, investors remained jittery, and Friday’s early decline erased the weeks gains for the benchmark S&P 500 stock index. The benchmark is in negative territory for the year. | |
| Markets across Asia dropped. The SSE index in Shanghai ended trading down 1.5 percent, while stocks in Shenzen were off 2.5 percent. Japan’s Nikkei 225 index fell 2 percent, and Hong Kong’s Hang Seng dipped 1.6 percent. | Markets across Asia dropped. The SSE index in Shanghai ended trading down 1.5 percent, while stocks in Shenzen were off 2.5 percent. Japan’s Nikkei 225 index fell 2 percent, and Hong Kong’s Hang Seng dipped 1.6 percent. |
| European markets followed a similar downward path, edging down through to the afternoon. In Britain, where Prime Minister Theresa May was rebuffed by European leaders in her request for help in navigating Britain’s exit from the European Union, the FTSE 100 was down 0.6 percent around midday. France’s CAC 40 had slipped about 1 percent, the DAX index in Germany had dipped 0.6 percent and the Euro Stoxx 50 was down 0.7 percent. | European markets followed a similar downward path, edging down through to the afternoon. In Britain, where Prime Minister Theresa May was rebuffed by European leaders in her request for help in navigating Britain’s exit from the European Union, the FTSE 100 was down 0.6 percent around midday. France’s CAC 40 had slipped about 1 percent, the DAX index in Germany had dipped 0.6 percent and the Euro Stoxx 50 was down 0.7 percent. |
| Mrs. May’s continuing troubles also appeared to taking a toll on the pound, which slid through the day and was at $1.254 by early afternoon. | Mrs. May’s continuing troubles also appeared to taking a toll on the pound, which slid through the day and was at $1.254 by early afternoon. |