US stocks lower on weak Chinese growth

Written By Unknown on Senin, 15 April 2013 | 21.29

US stocks have retreated following a surprisingly weak economic report out of China.

Five minutes into trade on Monday, the Dow Jones Industrial Average dropped 60.97 points, or 0.41 per cent, to 14,804.09.

The broad-based S&P 500 sank 8.78 points, or 0.55 per cent, to 1,580.07.

The tech-rich Nasdaq Composite Index fell 16.15 points, or 0.49 per cent, to 3,278.79.

Official government data on Monday said growth in China slowed to 7.7 per cent in the first quarter, compared with a median forecast of 8.0 per cent in an AFP survey and 7.9 per cent in the previous quarter.


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