U.S. stocks fall as investors worry over the outlook for China. China recently reported economic news that shows their economy is slowing down. China’s manufacturing sector is slowing down which caused investors to sell off shares because they see the global economy slowing down since U.S. and China are economically tied.
Existing home sales also increased less than expected in December with only a 0.1% increase which may indicate that the housing sector growth may be slowing down.
After last year’s big rally, investors are looking for signs the economy will be strong enough to keep the bull market going. And that’s why investors have been focusing on earnings.
The S&P 500 finished 0.89% lower at 1,828.46 while the Dow Jones Industrial Average shed 1.07% to 16,197.35. The Nasdaq was off 0.57% to 4,218.87.