Markets Erasing Yesterday's Gains
Wall Street opened down this morning, erasing some of yesterday's gains.
Part of yesterday's rally came from speculation that China would add to its stimulus announced last November.
Today, however, China said it plans no additional stimulus but still believes it will hit 8 percent GDP growth this year. So there goes your rally.
In the first 15 minutes of trading, the Dow is down about 100 points, or more than 1 percent.
The broader S&P 500 is down about 1.7 percent and the tech-heavy Nasdaq is down nearly 1 percent.
-- Frank Ahrens
Sign up to get The Ticker on Twitter
By
Frank Ahrens
|
March 5, 2009; 9:52 AM ET
Categories:
The Ticker
| Tags: China, Dow Jones, nasdaq, s&p 500
Save & Share:
Previous: Wal-Mart Lone Bright Spot In Februray Retail Report
Next: Daily Show's Jon Stewart Rips CNBC, Rick Santelli
The comments to this entry are closed.
No comments have been posted to this entry.