{"id":1915,"date":"2010-11-16T12:47:00","date_gmt":"2010-11-16T12:47:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-continue-to-slide-on-china-and-european-sovereign-debt-worries\/1914\/"},"modified":"2010-11-16T12:47:00","modified_gmt":"2010-11-16T12:47:00","slug":"stocks-continue-to-slide-on-china-and-european-sovereign-debt-worries","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stocks-continue-to-slide-on-china-and-european-sovereign-debt-worries\/1915\/","title":{"rendered":"Stocks Continue to Slide on China and European Sovereign Debt Worries"},"content":{"rendered":"

The U.S. equity market is continuing to fall on worries over inflation in China and the debt crisis in Europe. The Dow Jones<\/a> is currently down 1.45% to 11,039.59, the S&P 500<\/a> is currently down 1.46% to 1,280.28 and the Nasdaq is currently down 1.57% to 2,474.26.<\/p>\n

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The decline in the equity market is being led by energy and basic materials stocks. Freeport-McMoRan Copper & Gold<\/a> Inc. (NYSE: FCX<\/a>) is among the biggest loser in the basic materials sector. Shares of Freeport-McMoRan are currently down 5.18% to $96.72, after touching an intra-day low of $96.02.<\/p>\n

According to Republican Senator Bob Corker, the U.S. Federal Reserve to focus only on price stability rather than have a \u201cdual mandate\u201d to fight inflation and also maintain full employment. Corker, who is also a member of the Senate Banking Committee, gave his views in a statement released today.<\/p>\n

U.S. homebuilders confidence improved for a second month in a row in November, an indication that residential construction may hold at depressed levels. The National Association of Home Builders\/Wells Fargo confidence index improved to a five-month high of 16 in November from 15 in October.<\/p>\n

The Federal Reserve today reported that industrial production was flat in October following a cutback in utility use due to warm weather. Factory production increased 0.5% in October following a 0.2% gain in September, while utilities output dropped 3.4% in October, following a 2.2% decline in September.<\/p>\n

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