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US stocks end mostly lower on China data, recession fears

05:29 17 May 2022 Author :  

US stocks ended mostly lower Monday on weak economic data from China that added to investors’ concerns over an economic downturn amid price pressures and rising borrowing costs. 

Retail sales and factory output in China fell in April to their lowest levels in roughly two years, according to official data, a result of the country's restrictions due to the coronavirus pandemic.

The blue-chip Dow Jones Industrial Average ended up 26.76 points, 0.08%, at 32,223.42.

The S&P 500 fell 15.88 points, or 0.39%, to close at 4,008.01.

The tech-heavy Nasdaq plummeted 142.21 points, or 1.20%, to 11,662.79.

The yield on 10-year Treasuries declined three basis points to 2.88%.

West Texas Intermediate crude rose 3.2% to $114.08 a barrel, while international benchmark Brent crude rose 2.3% to $113.94 per barrel.

Gold futures rose 0.9% to $1,825.10 an ounce.

Bitcoin is back to around the $30,000 level./aa

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