An early 100 point gain in the Dow disappeared just like
that.
First the scoreboard:
Dow: 12,653, -83.1, -0.6%
S&P 500: 1,341, -10.9, -0.8%
NASDAQ: 2,902, -29.4, -1.0%
And now the top stories from BusinessInsider
Some of the latest economic data points have been painting
an increasingly worrisome picture of the economy. Last night, China's June trade data showed
that year-over-year import growth plunged to 6.3 percent from 12.7 percent in
May. This is worrisome because China is
perhaps the key growth engine in the global economy. SEE ALSO: 10 Ways China Is
Changing The World >
The NFIB Small Business Optimism survey fell to 91.4, down
from 94.4 a month ago. This was much
worse than the 93.3 that economists were expecting. From the NFIB: "The
decline is significant, relinquished the gains achieved earlier this year and
is a clear indication of slow growth. Only one of the 10 Index components
improved, expected credit conditions."
All of this was good news only to the bears…..
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