Posted: Aug 10, 2012 10:58 AM
Source: Associated Press
NEW YORK- After months of worrying about Europe, now investors are getting concerned about Asia too.
U.S. stocks are trading lower at midday Friday, after unsettling reports that China's economy is slowing.
The Dow Jones industrial average is down 15 points to 13,150. The Standard & Poor's 500 is down two to 1,401. The Nasdaq composite index is down six to 3,012.
China reported that export growth slumped to 1 percent in July from more than 11 percent the previous month.
J.C. Penney is up despite reporting a quarterly loss and lower sales, as new CEO Ron Johnson laid out more of his vision for turning around the company. Manchester United, the celebrated British soccer team, went public at $14 but is up just a penny.