US stocks retreat in premarket on China data

Markets 1/14/2019, 10:50 AM
US stocks retreat in premarket on China data

Market participants showed signs of pessimism on Monday regarding the global economy, but caution about the debate in the Parliament of the United Kingdom on the withdrawal from the European Union was also evident. Gold strengthened amid risk aversion, while safe havens like the yen and sovereign debt securities issued by the United States, Britain and Germany benefited as well. Sentiment worsened in general after statistics showed China's imports fell strongly in December on an annual scale, while that last year's surplus in trade with the United States reached a record $323.32 billion, complicating the two countries' negotiations.

The Dow Jones Industrial Average fell 0.86% or more than 200 points in premarket. The Nasdaq 100 was down 0.93% and the S&P 500, the broadest of the three benchmarks, tumbled 0.85% before the bell.

The euro was nearly flat, selling for $1.14658 at 10:48 am CET. The pound slipped 0.12% to $1.283 and the dollar declined 0.37% to ¥108.151. Gold was 0.41% higher at $1,293.64.

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