U.S. stocks slips over 1% amid global concerns

11:10, April 19, 2011      

Email | Print | Subscribe | Comments | Forum 

U.S. stocks opened lower on Monday with major index declining over 1 percent amid Greek debt default, China's tightening step to curb inflation and disappointing earning reports.

The Dow Jones industrial average slumped 175.24 points, or 1.42 percent, to 12,166.59. The Standard & Poor's 500 lost 17.60 points, or 1.33 percent, to 1,302.08. The Nasdaq Composite Index was down 40.33 points, or 1.46 percent, to 2,724.32.

The market was influenced by the fears of a possible default in Greece. Meanwhile, concerns over possible inflation risks got worse as oil prices hit 108 dollars a barrel on Monday.

Moreover, China raised its required reserve ratio for banks to a record high 20.5 percent in order to control its abundant liquidity, high inflation and stubborn property prices.

Investors also disappointed on earning reports. Citigroup Inc. posted its first-quarter profit on Monday. The third-largest U.S. bank's profit slipped 32 percent in the first quarter of 2011, slightly beating expectations.

Source: Xinhua
BRICS Leaders Meeting 2011
Japan in aftershocks
  Weekly review  
April 14   BRICS nations can be anchor of global economy, politics
April 13   China launches assault on child kidnapping
April 12   China's coastal seas unaffected by Japan's radioactive water
April 11   US has serious human rights abuses: China
April 16   The week in pictures
April 11   PM Kan offers thanks for 'Kizuna' on People's Daily
April 13   Stable BRICS nations prop up world development
April 13   US should stop acting like 'preacher' of human rights
April 15   GDP rises 9.7% in Q1, inflation surges too
April 14   Auditor lady's sudden death sparks overwork debate


  • Do you have anything to say?


Special Coverage
  • BRICS Leaders' Meeting 2011
  • Focus On China
Major headlines
Editor's Pick
  • Silver prices soar in China
  • Canadian PM on campaign trip in Yellowknife
  • Special exhibition showcases life of Einstein
  • Candles lit for Chernobyl after 25 years
  • HK issues stamp to mark Mother's Day
  • Canton Fair attracts buyers from all over world
Hot Forum Dicussion