Wednesday, 9 December 2015

Wall St ends choppy session lower, weighed by China, oil

US stocks fell in a choppy session on Tuesday as lower oil prices pressured energy stocks for a fifth day and weak Chinese trade data reignited fears of a global slowdown. 

Crude prices hovered near 7-year lows after U.S. crude dipped below USD 37 per barrel and Brent fell below USD 40 for the first time since early 2009 on fears that global oil producers will pump even more crude in a saturated market. 

 Data released overnight showed China's imports fell for the 13th consecutive month, with an 8.7 percent decline in November compared with a year earlier. 

 The China data added pressure to the energy and materials sectors as it sparked fears about a global recession and demand worries for commodities.

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