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FRIDAY, NOVEMBER 27, 2009
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 MARKETS 
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US Stocks Track Chinese Selloff; Dow Down 48

Shanghai Comp. loses 6.7% in one session

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(Newser) – A staggering 6.7% selloff in the Shanghai Composite spooked US stocks, which stayed low throughout today's session, the Wall Street Journal reports. Analysts note that it’s the second time in 3 weeks US markets have fallen in response to a drop in China—a reverse of the usual relationship. The Dow lost 47.92 points to settle at 9,496.28. The Nasdaq dropped 19.71, closing at 2,009.06, and the S&P 500 fell 8.31 to 1,020.62.

Traders work on the floor of the New York Stock Exchange in this undated file photo.
Traders work on the floor of the New York Stock Exchange in this undated file photo.   (AP Photo/Mary Altaffer)
An investor looks at index shown on electric boards at a brokerage house in Shanghai, China, Monday, Aug. 31, 2009. China's main stock index sank 6.7 percent Monday.
An investor looks at index shown on electric boards at a brokerage house in Shanghai, China, Monday, Aug. 31, 2009. China's main stock index sank 6.7 percent Monday.   (AP Photo)
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The market seems to be keying off the Shanghai Composite lately. It shows people are looking for any reason to sell this market on a belief it's come too far, too fast. - Kevin Kruszenski, KeyBanc Capital Markets

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offspringdude235
Sep 1, 09 1:04 AM CDT
That's not good... We shouldn't depend on the Chinese market, they should depend on us... Reply
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