Advertisement

Stocks decline despite good U.S. economic data

Share via

The stock market got off to a rough start Thursday despite positive U.S. economic data, as investors worried about the risk of slowing growth overseas.

European stocks continued a nascent retreat that has taken hold this week. A report showed a decline in manufacturing activity in China, while separate reports hinted at potential economic slowing in Germany and France.

As of 7:30 a.m. PST, the Dow Jones industrial average was off 64.86 points, or 0.5%, to 13,059.76.

Advertisement

The Dow has fallen for three straight days. It had a similar drop earlier this month but then recovered and went on to cross 13,000 a week later.

The selling came despite encouraging news in the U.S., with leading economic indicators rising the most in nearly a year and first-time jobless claims declining to the lowest level in four years.

RELATED:

Advertisement

Dow heading toward first triple-digit decline of the year

Gasoline price: Signs still point to a rise and to tight supplies

Weekly jobless claims fell last week to 348,000, a 4-year low

Advertisement

Stocks decline despite good U.S. economic data

Advertisement