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Global stocks tumble as investors weigh Chinese GDP data, which beats estimates but 'flatters to deceive'
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- Global stocks plummeted on Thursday as China released mixed data that showed some growth, but its retail sales failed to climb into positive territory.
- China's benchmark Shanghai composite index fell 4.5%, while Hong Kong's Hang Seng index dropped 2.1%.
- European markets fell ahead of a European Central Bank meeting where leaders are expected to hold fire on any further stimulus measures.
- US markets reversed the previous day's losses and fell between 0.6% and 1%.
- Visit Business Insider's homepage for more stories.
Global stocks tumbled on Thursday after the latest economic data out of China showed a return to growth by posting better-than-expected metrics, aside from its retail sales.
China's mainland benchmark index, the Shanghai Composite fell 4.5%, and Hong Kong's Hang Seng fell 2.1%.
See the rest of the story at Business Insider
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See Also:
- US economic activity improved slightly through early July but remained well below pre-crisis levels, according to Fed's Beige Book
- US small business optimism jumped the most since 2016 in June as owners anticipated better sales amid the economic reopening
- A former top White House official blasts 'simply inexcusable' delays for coronavirus tests
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