{"id":15637,"date":"2011-11-23T17:33:00","date_gmt":"2011-11-23T17:33:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-fall-on-mixed-economic-data\/15636\/"},"modified":"2011-11-23T17:33:00","modified_gmt":"2011-11-23T17:33:00","slug":"stocks-fall-on-mixed-economic-data","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stocks-fall-on-mixed-economic-data\/15637\/","title":{"rendered":"Stocks Fall on Mixed Economic Data"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><br \/>\n<!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><br \/>\n<!--\/mfunc--><\/p>\n<p>U.S. stocks sank lower Wednesday, as anxieties about the eurozone continued and a preliminary report showed that Chinese manufacturing has slowed sharply.<br \/>\nAn lackluster report on the U.S. job market added to the gloomy mood on Wall Street.<br \/>\nHeadlines from oversees are continuing to shock investors, even with some signs of strength within the U.S. economy.<\/p>\n<p>The <a href=\"https:\/\/thestockmarketwatch.com\/markets\/dowjones\/today.aspx\">Dow Jones<\/a> Industrial average lost 180 points, or 1.6%. The selling was broad, with all 30 components of the blue chip index losing ground. The <a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> fell 20 points, or 1.7%, and the <a href=\"https:\/\/thestockmarketwatch.com\/markets\/nasdaq\/today.aspx\">Nasdaq<\/a> dropped 47 points, or 1.9%.<br \/>\nInvestors were unsettled by a disappointing auction of German <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">bonds<\/a>. The debt of Europe&#8217;s largest and most healthy economy is often considered the <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a> standard of eurozone sovereign debt, and yields have managed to hold near record lows. But the dismal auction results raise concerns.<br \/>\nAnalysts state the poor German auction demonstrates that foreign investors are avoiding eurozone dominated <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">bonds<\/a> all together, and that there are growing signs that the problems from the peripheral bond markets are starting to affect the core of the eurozone.<\/p>\n<p>The European Commission published a green paper on stability bonds Wednesday to help staunch those concerns, outlining proposals to fix the eurozone&#8217;s debt crisis. However, skepticism remains about how effective these plans will be.<br \/>\nMeanwhile, Chinese manufacturing activity fell to a 32-month low, heightening worries that the eurozone&#8217;s problems are spreading beyond Europe and augmenting fears about a global economic slowdown.<br \/>\nIn the U.S., unemployment insurance claims rose higher during the latest week, while the savings rate rose, signifying that consumers may be clamping down on spending.<br \/>\nStocks have taken a downward turn in recent sessions, as rising bond yields in Italy and Spain continue to rattle investor confidence.<\/p>\n<p><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p>Stocks ended in the red Tuesday amid concerns about U.S. economic growth, though losses moderated somewhat after the International Monetary Fund unveiled a beefed-up lending program to help otherwise healthy countries with short-term financing problems.<\/p>\n<p>In world markets, European stocks closed sharply lower: Britain&#8217;s FTSE 100 (UKX) dropped 1.3%, the DAX (DAX) in Germany slid 1.4% and France&#8217;s CAC 40 (CAC40) lost 1.7%.<br \/>\nAsian markets ended in the red, after the report that showed Chinese manufacturing output fell to the lowest level since March 2009.<br \/>\nThe Shanghai Composite (SHCOMP) ended the session 0.7% lower and the Hang Seng (HSI) in Hong Kong tumbled 2.1%. Japanese markets were closed Wednesday for holiday.<\/p>\n<p>Regarding the U.S. economy, the government released several economic reports Wednesday including jobless claims, personal spending and income, and durable goods.<br \/>\nThe number of people filing for initial unemployment benefits rose 2,000 in the latest week to 393,000. Analysts expected 391,000 jobless claims for the week ending November 19.<br \/>\nPersonal income climbed 0.4% in October, while personal spending grew 0.1%. Analysts had expected both measures to rise 0.3%.<br \/>\nMeanwhile, orders of durable goods fell 0.7% in October &#8212; slightly less than the 0.9% drop economists had been expecting.<\/p>\n<p>In corporate news, Bank of America (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>:BAC, Fortune 500) shares slid 4%, and briefly touched the lowest level since March 2009, after a report in The Wall Street Journal on Tuesday stated the bank was having difficulty meeting U.S. financial regulatory requirements.<br \/>\nLate Tuesday, the Federal Reserve also ordered the top 31 U.S. banks &#8212; with assets of $50 billion or more &#8212; to participate in stress tests that will simulate another financial crisis.<br \/>\nTests will simulate a more severe global financial meltdown for six banks with the largest trading operations: Bank of America, Goldman Sachs (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>:GS, Fortune 500), Citigroup (<a href=\"https:\/\/stockmarketwatch.com\/markets\/nyse\/today.aspx\" data-internallinksmanager029f6b8e52c=\"2\" title=\"NYSE Today\">NYSE<\/a>:C, Fortune 500), JPMorgan Chase (NYSE:JPM, Fortune 500), Morgan Stanley (NYSE:MS, Fortune 500) and Wells Fargo (NYSE:WFC, Fortune 500).<\/p>\n<p>Shares of many of those financial behemoths took a hit Wednesday: JPMorgan Chase, Citi and Morgan Stanley shares all dropped more than 2%.<br \/>\nShares of Groupon (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nasdaq\/today.aspx\">NASDAQ<\/a>:GRPN) tumbled 14%, to $17.20 a share &#8212; well below its initial public offering price of $20. The Internet deal site&#8217;s stock has been battered this week &#8212; along with other newly public startups like LinkedIn &#8212; on renewed dot-com bubble concerns and concerns of overvaluation.<br \/>\nJohn Deere (NYSE:DE, Fortune 500) reported full-year earnings that hit a record $2.8 billion, and posted fourth-quarter net income that blew past expectations. Shares of the equipment maker climbed more than 3%, making it one of the strongest performers in the S&amp;P 500.<\/p>\n<p>The dollar gained against the euro, the British pound and the Japanese yen.<br \/>\nOil for January delivery dropped $1.53 to $96.48 a barrel.<br \/>\n<a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Gold<\/a> <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">futures<\/a> for December delivery fell $13.20 to $1,689.20 an ounce.<br \/>\nFor bonds, the price on the benchmark 10-year U.S. Treasury fell slightly lower, pushing the yield up to 1.95% from 1.94% late Tuesday.<\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/stocks-fall-on-mixed-economic-data\/15637\"><br \/>\nStocks Fall on Mixed Economic Data<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/stalled-budget-talks-hurt-u-s-stocks\/15454\"><br \/>\nStalled Budget Talks Hurt U.S. Stocks<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/bad-news-for-sears-good-news-for-boeing\/15236\"><br \/>\nBad News For Sears, Good News for Boeing<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/retail-spending-boosts-economy-not-all-retailers-see-gains\/15144\"><br \/>\nRetail spending boosts economy; Not all Retailers See Gains<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-down-amid-eurozone-jitters\/14931\"><br \/>\nStocks Down Amid Eurozone Jitters<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/can-starbucks-do-for-juice-what-it-did-for-coffee\/14797\"><br \/>\nCan Starbucks Do For Juice What It Did For Coffee?<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/markets-fall-on-news-from-europe-gm-profits-up\/14729\"><br \/>\nMarkets Fall on News From Europe, GM Profits Up<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n.<\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Meggan  <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stocks sank lower Wednesday, as anxieties about the eurozone continued and a preliminary report showed that Chinese manufacturing has [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[3],"tags":[],"class_list":["post-15637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/15637","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=15637"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/15637\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=15637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=15637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=15637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}