AFP: Dow suffers worst day of 2019 as recession fears hit US, European stocks15 August 2019 | 02:28 | FOCUS News Agency
The Dow suffered its worst day of 2019, finishing with a loss of some 800 points, or 3.1 percent, at 24,479.42, while leading European bourses shed more than two percent. The losses marked a sharp reversal from Tuesday's heady session, when President Donald Trump's decision to push back US tariffs on many key Chinese goods boosted equities.
But the glow from that positive move faded as Chinese industrial output hit a 17-year low and German data showed the economy contracted in the second quarter. Economists have warned for months that the grinding US-China trade war was crimping capital investment and weighing on global sentiment, already dented by the slowdown in China and expected Brexit impact on Britain and Europe.
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