The U.S. equity markets are extending their solid declines in late-morning action, as global sentiment remains hampered by yesterday's disappointing Chinese manufacturing data, as well as recent sell-offs in the emerging market currency markets. Treasuries are continuing to rally amid the global uneasiness, while the domestic economic calendar is void of any major releases today. Meanwhile, stronger-than-expected earnings reports from Dow members Microsoft and Procter & Gamble, along with Starbucks, Bristol-Myers Squibb and Honeywell International, are failing to lift the equity markets. Gold is higher, while crude oil prices are lower and the U.S. dollar is flat. Overseas, Asian stocks finished mostly lower on the China concerns and emerging market foreign exchange movements, which are also pressuring European equities.
SOURCE; Schwab
SOURCE; Schwab
