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Since mu7176 needs content he cares about
Posted on: September 10, 2019 at 11:50:15 CT
Ace UNC
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A fall in technology stocks pulled Wall Street's main indexes lower on Tuesday as weak economic data from China revived global recession fears, but losses were tempered by hopes on trade.
China's factory-gate prices shrank 0.8% in August, the sharpest pace of decline in three years, as businesses slashed prices to cope with flagging demand amid a bruising trade war with the United States that has slowed growth in the world's second largest economy.
"A slowdown in China is clearly a sign that global deceleration of economic activity is real and is something we're going to have to deal with," said Omar Aguilar, chief investment officer of equities and multi-asset strategies at Charles Schwab Investment Management.
Offering some respite, a report from South China Morning Post said Beijing is expected to agree to buy more agricultural products in hopes of a better trade deal with the United States.
Analysts attributed some of the selloff in tech to investors re-distributing wealth into stocks that have underperformed during the year.
Tech stocks .SPLRCT, the best performer on the S&P 500 with a 28% surge this year, fell 1.13%, while the energy sector .SPNY, the year's worst performer, jumped 1.78%.
Real estate .SPLRCR fell 1.94, the most among the 11 major S&P sectors. The sector is the second best performer of the year, gaining 24%.
"It's less about risk and more about returns - taking profits and reallocating to the losers," Aguilar said.
China's factory-gate prices shrank 0.8% in August, the sharpest pace of decline in three years, as businesses slashed prices to cope with flagging demand amid a bruising trade war with the United States that has slowed growth in the world's second largest economy.
"A slowdown in China is clearly a sign that global deceleration of economic activity is real and is something we're going to have to deal with," said Omar Aguilar, chief investment officer of equities and multi-asset strategies at Charles Schwab Investment Management.
Offering some respite, a report from South China Morning Post said Beijing is expected to agree to buy more agricultural products in hopes of a better trade deal with the United States.
Analysts attributed some of the selloff in tech to investors re-distributing wealth into stocks that have underperformed during the year.
Tech stocks .SPLRCT, the best performer on the S&P 500 with a 28% surge this year, fell 1.13%, while the energy sector .SPNY, the year's worst performer, jumped 1.78%.
Real estate .SPLRCR fell 1.94, the most among the 11 major S&P sectors. The sector is the second best performer of the year, gaining 24%.
"It's less about risk and more about returns - taking profits and reallocating to the losers," Aguilar said.
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Since mu7176 needs content he cares about - Ace AU - 9/10 11:50:15
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