Monday, August 17, 2009

Wall St sinks as recovery hopes hurt | Reuters

Wall St sinks as recovery hopes hurt | Reuters: "NEW YORK (Reuters) - Stocks suffered their worst loss in seven weeks on Monday as weak data from Japan and a disappointing outlook from retailer Lowe's Cos (LOW.N) dampened hopes about the economy's growth.

Japan's gross domestic product showed its economy pulled out of recession in the second quarter, but at a slower pace than expected, prompting a sell-off in major Asian markets that spilled over into Europe and North America.

Lowe's stock dropped 10.3 percent as the U.S. home improvement company gave investors few reasons to be positive about the outlook for the consumer."

No comments:

Post a Comment

Spamming will be removed.

Due to spamming. Comments need to be moderated. Your post will appear after moderated regardless of your views as long as they are not abusive in nature. Consistent abusive posters will not be viewed but deleted.

Note: Only a member of this blog may post a comment.