and a general sense of economic malaise in China, which trails only the U.S. in gross domestic product and is a crucial market for many American companies.against the dollar since late 2022, as foreign exchange investors lose faith in the Chinese currency as the country’s economic outlook looks bleaker than that of other powerhouses.
U.S. stocks were largely flat Monday, with the Dow Jones industrial average down about 0.1% by 11:15 a.m. EDT.“We stay unexcited by China exposure,” JPMorgan’s top global equity strategist Mislav Matejka understated in a weekend note to clients. The economic powerhouse’s “ailing” real estate sector is in a “structural downtrend,” the bank continued.
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