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Industrials
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Reuters Insider - Growth, trade worries sink stocks

Fri 8th February, 2019 12:35am
Click the following link to watch video: https://share.insider.thomsonreuters.com/link?entryId=1_1ub1heqn&referenceId=tag:reuters.com,2019:newsml_OVA0L2ETN_930&pageId=ReutersNews
Source: Reuters Insider

Description: Wall Street stocks sank on Thursday as worries that the United
States and China would not be able to reach a trade deal by a March 1 deadline
intensified earlier concerns about slowing global economic growth. Fred
Katayama reports.
Short Link: https://reut.rs/2E0wlSN

Video Transcript:

Stocks slid on Thursday. Tech and energy shares led the downturn on fears the
US and China would not be able to strike a trade deal as the deadline draws
near. That, as well as the European Union's move to cut its growth forecast,
stirred investors' worries about global growth. National Holdings Chief Market
Strategist Art Hogan.

We got some economic data that came out of the Eurozone that was lower than
anticipated. So that confirms our fears of a global economic slowdown, and
that certainly doesn't help. I think that the other thing that's clearly in
the forefront is hearing negative news about the China trade talks causes a
great deal of disturbance in this market.

White House Adviser Larry Kudlow rekindled concerns about trade after he said
there was a pretty sizable distance to go in the US trade talks with China.
Marquee tech names fell including the big FAANG stocks – Facebook, Apple,
Amazon, Netflix, and Alphabet. Twitter's shares plunged. The company reported
a drop in users in the fourth quarter and it forecast first quarter revenue
that fell shy of estimates .BB&T and SunTrust Bank shares both rose as
regional lenders announce they are merging in a $28 billion stock deal. In
Europe, the yields growth forecast revision drove shares sharply lower
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