Futures slip, stocks waver amid growth concerns [Business News Network (BNN) (Canada)]
Twitter, Inc. (TWTR)
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Source: Business News Network
US equity futures slipped and stocks in Europe fluctuated as traders weighed China's latest measures to support its economy after poor data fueled concerns about the outlook for global growth. Contracts on the S&P 500 and Nasdaq 100 dropped, but were off their session lows. Twitter Inc. shares declined in pre-market trading, on course to wipe out all their gains since billionaire Elon Musk disclosed his stake in the social media platform. The Stoxx Europe 600 index fell as much as 0.8 per cent before paring losses, with declines for tech and travel stocks offsetting gains for basic resources as industrial metals rallied. China's industrial output and consumer spending hit the worst levels since the pandemic began, hurt by COVID lockdowns. Officials are taking measured steps to help the economy: China effectively cut the interest rate for new mortgages over the weekend to bolster an ailing housing market, but the one-year policy loan rate was left unchanged Monday. The risk of a
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