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- Global Stocks: U.S. indices fell and drag Asian stocks down
Global Stocks: U.S. indices fell and drag Asian stocks down
Major U.S. stock indices fell on Friday amid declines in energy companies.
The Dow Jones Industrial Average slid 55.32 points, or 0.3%, to 17,690.66, but ended July with a 0.4% gain. The S&P 500 fell 4.71 points, or 0.2%, to 2,103.90; its energy sector fell 2.6% and is now 28% below levels seen 12 months ago. Nevertheless the S&P gained 2% over July. The Nasdaq Composite Index declined less than a point to 5,218.28, but booked a 2.9% gain over the month.
The U.S. Labor Department reported on Friday that wages rose a record-low 0.2% in the second quarter after the 0.7% gain in the first quarter.
Today Asian stocks followed declines in U.S. equities. Hong Kong Hang Seng fell 1.02%, or 252.19 points, to 24,384.09. China Shanghai Composite Index fell 2.35%, or 86.28 points, to 3,577.45. The Nikkei lost 0.18%, or 37.13 points, to 20,548.11.
Data by Markit Economics added to investors' concerns. China Manufacturing PMI came in at 47.8 in July; this is below preliminary reading of 48.2 and June final reading 49.4.
Beijing infrastructure companies advanced after it was known that Chinese capital will host Olympic Games in 2022.
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