Dow, S&P 500, Nasdaq slide after Moody’s downgrades US credit standing

Asian equities declined Monday as buyers reacted to weaker-than-expected Chinese language financial knowledge and contemporary considerations over US credit score danger.

China’s Nationwide Bureau of Statistics reported April industrial output rose 6.1% year-over-year, slowing from 7.7% in March however beating forecasts. Retail gross sales climbed 5.1%, under the anticipated 5.5% and down from March’s 5.9%.

Markets throughout the area responded negatively as Hong Kong’s Dangle Seng (^HSI) dropped 0.5%, whereas China’s CSI 300 (000821.SS) misplaced 0.5%.

Japan’s Nikkei 225 (^N225) declined 0.7% as South Korea’s Kospi (^KS11) fell 1.1%. Australia’s S&P/ASX 200 (^AXJO) dipped 0.6%.

The decline in Chinese language financial knowledge’s affect on the area was compounded by Moody’s current downgrade of the US credit score outlook, which weighed on investor sentiment.