U.S. stocks fall on slower growth in China
Traders gather at a post on the floor of the New York Stock Exchange during the IPO of Forum Energy Technologies Thursday. (April 12, 2012) Credit: AP
U.S. stocks are falling on weak Chinese economic data and ongoing tensions in European debt markets.
A few minutes after the opening bell, the Dow Jones industrial average is down 50 points at 12,937. The broader Standard & Poor's 500 index is down almost six points, at 1,382. The Nasdaq composite is down 15 points to 3,040.
Concerns about prospects for global growth remained the market focus on Friday. Data in China showed that country's economy grew at an 8.1 percent pace in the January-March period, the slowest pace in almost three years.
Investors were also worried about Europe's debt problems. Those concerns outweighed better-than-expected earnings from JPMorgan Chase and Wells Fargo & Co.
The government reported that inflation was mild in March. The government reported that inflation was mild in March.
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