Stocks skid Monday as growth worries outweigh Barr summary of Mueller report
U.S. stocks retreated Monday morning as worries about global growth overwhelmed the market’s attempt to regroup after data showing weakness on the global economic front triggered heavy losses last Friday.
Asian shares tracked Friday’s Wall Street losses as global-growth worries were back in focus for Monday. The Nikkei-225 index NIK, -3.01% gave up 3%, while Europe stocks also fell in early trading.Market participants were also digesting Special Counsel Robert Mueller’s investigation released on Sunday, which apparently didn’t find evidence that the Trump campaign “conspired or coordinated” with Russia to influence the 2016 presidential election.
Speaking in Hong Kong on Monday, Chicago Federal Reserve President Charles Evans said it was prudent to remain patient and see what further data brings before deciding on further interest-rate moves. What are strategists saying? “Things may calm down if we feel some good vibrations from the trade talks in Beijing later this week, but it could be a rocky few days to start,” said Jeffrey Halley, senior market analyst at OANDA, in a note to clients.
The Wall Street Journal reported that Apple will charge for the service, with subscriptions to HBO, Showtime and Starz for $9.99 a month, but not to Netflix Inc. NFLX, +0.42% Netflix’s stock was up 0.6%.
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