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Global Stocks, Emerging Markets Fall on China Data

Hanumann, CC-By-2.0

Global Stocks, Emerging Markets Fall on China Data (Reuters)

Stocks and global emerging markets sold off sharply on Thursday on disappointing Chinese manufacturing data and weak company earnings, while the euro rose against the dollar after upbeat survey results on the euro zone’s private sector. European shares retreated from their multi-year highs hit earlier in the week amid caution about global growth trends. The MSCI emerging equities index fell 1 percent to its lowest level in nearly two weeks. Selling occurred in emerging currencies, as well, with the Turkish lira earlier touching a record low and Argentina’s peso down 17 percent. The slide extended to commodities, with the London-traded Brent crude oil dipping below $108 a barrel, after weak data from the world’s top two oil consumers revived worries about the outlook for demand.

Paul Dykewicz

Paul Dykewicz is the editor of StockInvestor.com and the editorial director of Eagle Financial Publications in Washington, D.C. He writes and edits for the website, as well as edits investment newsletters, time-sensitive trading alerts and other reports published by Eagle. He also is an accomplished, award-winning journalist who has written for Dow Jones, USA Today and other publications, as well as served as business editor of a daily newspaper in Baltimore. In addition, Paul is the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain." He received his MBA in finance from Johns Hopkins University, where he was a two-time president of the school's Finance Club. In addition, Paul has a bachelor's degree from the University of Michigan and a master's degree in journalism from Michigan State University. Outside of work, Paul volunteers with a faith-based organization to assist the poor in Southeast Washington, D.C., to learn personal finance skills to lift themselves out of debt.