Asian Mining Stocks Lead Slide as China Growth Outlook Weighed
- WTI lower after Iran repeats goal of boosting crude exports
- Emerging markets retreat after China industrial profits drop
Why Oil Is Sliding From Its Highest Level in 3 Weeks
A difficult year for markets started off its final week of trading with stocks declining, crude sliding from a three-week high and a drop in Chinese industrial profits dragging down emerging markets.
Energy and raw material producers led the Standard & Poor’s 500 Index lower, though the loss narrowed during the afternoon. That’s after the benchmark U.S. equity gauge rose last week by the most in a month. The Stoxx Europe 600 Index retreated, while Russia’s ruble led declines in currencies of oil-producing nations. The Shanghai Composite Index posted its worst day in a month as fresh signs of slowing growth in China added to concern looming changes to the country’s listing regime and the expiration of a share-sale ban will hurt demand for its stocks.