The global economic growth was the major concern in the financial markets today. Wall Street plunged and the main indexes showed decline by over 2,8 %. According to market analysts the economic information from China and Germany and the ongoing uncertainty with the UK Brexit-deal were the main topics.
China´s industrial output growth has declined to 17-years low and Germany´s export declined during the second quarter Reuters reported. S&P 500 -index declined by 2,77% to 2845 points, Dow Jones index by 2,91 % to 25516 points and Nasdaq-index by 2,87 % to 7786 points.
Department store Macy´s (M) published its figures and the stock declined by 13,22 % to 16,80 dollars. The company’s net sales during the second quarter was 5,5 billion dollars that is nearly the same level than a year ago. According to the release the company said the quarter was a slow start and was below expectations. Macy´s lowered its guidance for the whole year.
In Europe the stocks declined as well and in Germany the DAX-index closed down 2,19 % to 11 492 points and in France the CAC 40 -index closed down 2,08 % to 5251 points. In London the FTSE index closed down 1,42 % to 7147 points.
Euro was trading at 1,11 dollars and sterling at 1,205 dollars.