Wall Street slips as China data drags, Fed statement looms
NEW YORK (Reuters) – Stocks edged lower at the open on Monday, as the benchmark S&P 500 pulled back from its best weekly performance since June after data in China increased worries over a slowing global economy. Chinese imports fell 2. 6 percent on the year in August, short of expectations for a 3. 5 percent rise. Exports grew 2. 7 percent, below forecasts for a 3 percent rise in a Reuters poll. The data increased the odds of more Beijing-backed spending to deal with the damage done to the domestic economy by firms cutting production, inventories and imports due to weak global demand. . . .
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