Thursday, April 19, 2007

U.S. Stocks Drop on China Interest-Rate Concern; Dow Slides From a Record

(Bloomberg) -- U.S. stocks fell for the first time this week after faster-than-forecast growth in China's economy heightened speculation the country must raise interest rates.

The Dow Jones Industrial Average slipped from a record as commodity producers Exxon Mobil Corp. and Alcoa Inc. retreated on concern higher borrowing costs in China would reduce the nation's demand for oil and metals. Altria Group Inc. was the worst performer in the Dow after the company reported a drop in first- quarter profit.


Read more at Bloomberg Stocks News

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