Happy New Year, everything is terrible

Posted by K R on

Last year was not a good one for stocks. All told, the S&P 500 ended 2015 with a 0.7% loss. And a few hours into 2016, things don’t look so hot either. The trading year tumbled out of the gates Monday (Jan. 4), with the S&P down a bit more than 2%. The Nasdaq is even worse. China set the tone early, with its notoriously volatile stock markets stumbling. The Shanghai Composite index fell 7% on the day, triggering a newly installed circuit breaker. There were plenty of reasons to pick from. For one, a key gauge of Chinese manufacturing continued to show the industrial sector contracting, the 10th straight month of shrinkage. But perhaps more troubling, in the US, an important measure of manufacturing activity stayed in negative territory for the second straight month, adding evidence to the idea that the US industrial sector is weakening. Read More: Quartz

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