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Tortola Capital Reports: Wall Street Droops Amid Fears of Chinese Controls on Lending

The Dow experienced its biggest drop of 2010 on Wednesday as U.S. stocks fell to fears that China's curbs on lending might endanger the global economic recovery.

 
PRLog - Jan. 27, 2010 - ROAD TOWN, Virgin Islands, British -- The Dow experienced its biggest fall of 2010 on Wednesday as U.S. stocks dropped amid worry that China's curbs on lending might endanger the global economic recovery. IBM's outlook ignited caution about the technology sector.

The Dow Jones industrial average fell 122.28 points, or 1.14 percent, to end at 10,603.15. The Standard & Poor's 500 Index fell 12.19 points, or 1.06 percent, to finish at 1,138.04, the worst drop for the S&P 500 since Friday.

Shares of natural resource companies and big manufacturers, like Alcoa Inc. and Caterpillar Inc, fell amid signals that China may restrain its economic expansion. Tortola Capital’s President and CEO Henry J Marshall cites Peter Kenny of Knight Equity Markets as reporting: “This is really a direct result of concerns around the tightening of credit in China”.  IBM, however, posted a stronger-than-expected quarterly profit late on Tuesday, though investors had misgivings about its guarded 2010 outlook, and sent the stock down nearly 3 percent.

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Tortola Capital is focused on providing the most comprehensive and individualized financial planning and services available. As a full service wealth management and brokerage firm, we are able to focus on the needs, aspirations and legacy of each of our clients around the globe. We individually cater services for each client’s situation, and at Tortola Capital it is our goal to understand, anticipate, and meet each client’s changing financial needs with a comprehensive offering of high-quality products and services.

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Source:Tortola Capital
City/Town:Road Town - Ballast Bay, Tortola - Virgin Islands, British
Industry:Finance, Business
Tags:tortola capital, investing
Shortcut:prlog.org/10507824
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