Mining Stocks Tumble. Why Weak China Manufacturing Data Is a Worry.
Mining stocks were sliding on Tuesday as another weak batch of economic data out of China fueled fears of slowing demand for metals.
London's FTSE 100 was feeling the brunt of it, with Anglo American, Glencore, and Rio Tinto all in the red in early trading. The soft Chinese data "dragged a bit on sentiment in London, as miners were caught in the read-through," Saxo's Neil Wilson said in a research note.
Shares in Freeport McMoRan, Southern Copper, and Newmont also fell ahead of the U.S. opening bell.
Latest News
- Heavily shorted AI stock is rapidly climbing the Fortune 500
- What’s the national average savings account interest rate?
- Constellation Energy Stock Jumped on Meta Deal. Why It Didn’t Last.
- Gold Futures Pare Gains but Remain High Amid Trade War Worries
- NY Fed flags $1.06 trillion unrealized loss on bond holdings in 2024
- How the Smart Money Flies With Southwest Airlines (LUV) Stock Options