Market Snapshot: Dow down 250 points as China protests rattle markets and stoke fears about slowing global growth

by | Nov 28, 2022 | Stock Market

U.S. stocks tumbled on Monday amid concerns that protests in China might hobble global growth, while investors awaited a deluge of critical economic data, and commentary from Federal Reserve Chairman Jerome Powell, due out later in the week. How are stocks trading
The Dow Jones Industrial Average
DJIA,
-0.23%
was down 256 points, or 0.8%, at 34,090.

The S&P 500
SPX,
-0.90%
retreated 36 points, or 0.9%, to 3,990.

The Nasdaq Composite shed 97 points, or 0.9%, to 11,129.

U.S. stocks notched a weekly gain last week for the second time in three weeks. Dow rose 1.8%, while the S&P 500 advanced 1.5% and the Nasdaq gained 0.7%.

What’s driving markets Wall Street is in line to start the week in a downbeat mood as traders absorb the impact of unrest in China. Hong Kong’s Hang Seng Index
HSI,
-1.57%
closed off 1.6% as equity indexes across Asia traded lower. Worries about unrest in China spilled over into commodity markets as well, with West Texas Intermediate crude for January
CLF23,
+0.83%
delivery falling more than 3% at one point to less than $74 per barrel, erasing all of the U.S. benchmark’s year-to-date gains. Meanwhile, …

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