Wall Street falls as growth stocks, glum China data weigh

Published by
Reuters

By Amruta Khandekar (Reuters) -Wall Street’s main indexes fell on Monday as downbeat data out of China added to worries about a global economic slowdown against the backdrop of aggressive policy tightening by the U.S. Federal Reserve. Chinese and European stock markets fell, while oil slid as data showed China’s economic activity cooled sharply in April as COVID-19 lockdowns took a heavy toll on consumption, industrial production and employment. Nine of the 11 major S&P sectors declined in morning trade. Technology and consumer discretionary stocks fell 1.6% and 1.8%, respectively. Big growth …

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