Stocks fall as economic malaise spreads to Japan

Stocks are trading lower at midday on Wall Street after the latest evidence that the global economic slowdown is dragging on Asia.

Japan said Monday that its economy grew in the second quarter at a 1.4 percent annual rate, slower than many analysts had expected. Last week, China released dismal figures on retail sales and exports for July.

Slower growth in Asia worries investors because Asia's economic endurance has helped offset weakness in the U.S. and Europe in recent years. Exports from China and Japan are declining as Europe's economic woes hurt consumer confidence there.

The Dow Jones industrial average is down 75 points at 13,133 shortly before noon. The Standard & Poor's 500 index is down seven at 1,399. The Nasdaq composite index is down 16 at 3,004.

Source: http://news.yahoo.com/stocks-fall-economic-malaise-spreads-japan-141333345--business.html

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