The major Wall Street indices have opened in bearish Monday as China’s economic growth slowed as oil prices in steady rise fueled concerns about rising inflation.
The Dow Jones Industrial Average fell 73.74 points, or 0.21%, to 35,221.02 points.
The Standard & Poor’s 500 index opened, in fall of 7.65 points, or 0.17%, to 4,463.72 points. The Nasdaq Composite Index fell 57.60 points, or 0.39%, to 14,839.74.
The Chinese economy experienced the slowest growth in a year in the third quarter, hit by energy shortages, supply chain bottlenecks and fluctuations in the real estate market, driven by the ever-great bankruptcy crisis.
The Chinese economy grew 4.9% in the third quarter year-on-year, lower than the median forecast of 5.2%.
Production too in factory has dropped to its lowest level since early 2020, when coronavirus restrictions were at their peak.
The start of new construction in September fell for the sixth consecutive month, the longest streak since 2015.
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