Wall Street Weakened Depresse.
Stocks on Wall Street ended up weakening on Monday (Tuesday morning EDT), after a sharp decline in Chinese stock market stoked concerns about global economic growth.
Dow Jones Industrial Average plunged 127,94 points (0.73 percent) to close at 17.440,59.
The index is a broad-based S&P 500 down 12,01 points (0.58 percent) to end at 2.067, 64, while the Nasdaq technology composite index down 48,85 points (0,96%) became 5.039,78.
Equity markets around the world retreated after the Shanghai Stock Exchange plummeted 7.81 percent on Monday, amid concerns the Chinese Government will retract the support measures has been to stabilize the market the last three weeks. Important commodities, including oil and copper, also fell.
"The market is trying to grapple with whether we are seeing a slowdown in the global economy which is being predicted by the action of selling commodities," said Art Hogan, Chief market strategist at Wunderlich Securities.
Major bank stocks fell with the Dow, JPMorgan Chase, Citigroup and Bank of America each lost 1.3 percent.
High technology stocks were weak in the area of the other. Facebook lost 2.9 percent, down 2.7 percent and Netflix Tesla Motors was down 4.6 percent. Apple declined 1.4 percent.
Shares of oil-related stocks also fell, including Dow members Chevron slumped 1.6 percent, Anadarko Petroleum was down 2.3 percent and EOG Resources fell 2.6 percent. The price of bonds rises. Yields on u.s. Government bonds, 10-year futures dropped to 2.22 percent from 2.26 percent on Friday, while 30-year bonds dropped to 2.94 percent from 2.96 percent. Bond prices and yields move in opposite directions. https://www.mql5.com/en/signals/113999#!tab=history
