Tag

Shares have fallen 27% in the last month and 29% in the last three months.

A cheaper yuan is expected to aid exports for the world’s second-largest economy but also underlined concerns about the current status of the Chinese economy.

“Only the “national team”… would be able to turn the tide like this”, said Yingda Securities analyst Li Daxiao, referring to entities acting for the government.

S&P 500 e-minis ESc1 were down 5 points, or 0.24 percent, with 122,128 contracts traded. Germany’s DAX Index slipped 0.2 percent, France’s CAC 40 Index slid 0.3 percent, while the UK’s FTSE 100 Index fell 0.4 percent. Morgan Stanley said the company’s...

The drop by shares of Wal-Mart came after the company reported weaker than expected second quarter earnings and lowered its full-year guidance. The Dow Jones Industrial Average fell 43 points, or 0.2%, to 17,503 at the open.

However, he said he was bargain-hunting in the worst-affected sectors, such as luxury goods, and predicted broader European stock markets should soon stabilize.

Though China said its strong economic fundamentals provided “strong support” for the yuan, sources told Reuters that some within the government were pushing for the yuan to go even lower.

The Nasdaq Composite Index closed up 7.60 points, or 0.2%, at 5,044.39, after being down as many as 91 points.

The Dow Jones industrial average fell 212.33 points, or 1.2 per cent, to 17,402.84. The S&P 500 rallied 1.3% to 2104, while the NASDAQ added 1.2% to 5102.

The Dow Jones industrial average spiked 241.79 points (1.39 percent) to 17,615.17. Mr Foreman said he hasn’t bought or sold stocks in reaction to China’s currency moves, as he still expects the US market to move higher over the longer run.

Shares of US carmakers with big exposure to China fell.

Insurer Allstate fell 10.2 per cent after a rise in payments for auto accidents dented second-quarter earnings, while handbag and accessories retailer Coach rose 3.2 per cent after reporting better-than-expected results.

U.S. stocks dropped on Monday as energy companies slid along with the price of oil.

U.S. stocks slipped slightly Monday, as the price of oil continued to fall, weighing on stocks, and as investors scoured economic reports for clues on the pace of growth.

The Dow Jones Industrial Average lost 120.72 points, or 0.69%, to 17419.75.