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Stocks and global emerging markets sold off sharply on Thursday on disappointing Chinese manufacturing data and weak company earnings.

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Global Stocks, Emerging Markets Fall on China Data

Stocks and global emerging markets sold off sharply on Thursday on disappointing Chinese manufacturing data and weak company earnings.

Global Stocks, Emerging Markets Fall on China Data (Reuters)

Stocks and global emerging markets sold off sharply on Thursday on disappointing Chinese manufacturing data and weak company earnings, while the euro rose against the dollar after upbeat survey results on the euro zone’s private sector. European shares retreated from their multi-year highs hit earlier in the week amid caution about global growth trends. The MSCI emerging equities index fell 1 percent to its lowest level in nearly two weeks. Selling occurred in emerging currencies, as well, with the Turkish lira earlier touching a record low and Argentina’s peso down 17 percent. The slide extended to commodities, with the London-traded Brent crude oil dipping below $108 a barrel, after weak data from the world’s top two oil consumers revived worries about the outlook for demand.

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Written By

Paul Dykewicz is the editorial director of the Financial Publications Group at Eagle Publishing Inc., www.eaglepub.com, of Washington, D.C. Eagle publishes five free, e-letters, 10 weekly trading services and five monthly investment newsletters, Forecasts & Strategies, Successful Investing, Cash Machine, Growth & Dividend Report and The Alpha Investor Letter. He also is the editor of Eagle Daily Investor and the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain."

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archive

Global Stocks, Emerging Markets Fall on China Data

Global Stocks, Emerging Markets Fall on China Data (Reuters)

Stocks and global emerging markets sold off sharply on Thursday on disappointing Chinese manufacturing data and weak company earnings, while the euro rose against the dollar after upbeat survey results on the euro zone’s private sector. European shares retreated from their multi-year highs hit earlier in the week amid caution about global growth trends. The MSCI emerging equities index fell 1 percent to its lowest level in nearly two weeks. Selling occurred in emerging currencies, as well, with the Turkish lira earlier touching a record low and Argentina’s peso down 17 percent. The slide extended to commodities, with the London-traded Brent crude oil dipping below $108 a barrel, after weak data from the world’s top two oil consumers revived worries about the outlook for demand.

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