The Dow Jones Industrial Average was 0.46% lower at 16,376.84 while the S&P 500 was off 0.31% to 1,872.24. The Nasdaq was down 0.35% to 4,321.11.
U.S. stocks decline after weak economic report from China, the world’s second-largest economy, over the weekend that showed its exports unexpectedly dropped 18.1% in February. Economists had expected an increase of 5%. Which shows that the Chinese economy is accumulating more debt and burden the economy since the Chinese economy is importing more than exporting, and thus lowering their surplus and causing less optimism in the global economy.
This heavily affects U.S. because if China’s surplus shrinks, they will have less money to lend out to the U.S. due to their strong bilateral economic relationship.
Gold for April delivery increased 0.2 percent to finish at $1,341.40 an ounce, Crude oil dropped 1.4 percent to end at $101.12 a barrel, and Brent fell 92 cents, or 0.8 percent, to end the session at $108.08 a barrel.