Market Snapshot

Nov. 12, 2010, 11:46 a.m. EST

China worries weigh on Wall Street

By Kristina Peterson, MarketWatch

NEW YORK (MarketWatch) — U.S. stocks slid Friday led by materials as investors worried about the potential effects of further monetary tightening from China.

Weighing broadly, Asian markets tumbled Friday as concerns resurfaced that the Chinese government would further tighten monetary policy to counter inflationary pressures. The Chinese media reported that the country is setting out new rules that will forbid foreign companies from buying property there and limit foreigners to purchasing just one residential unit for their own use.

The benchmark Shanghai Composite Index fell 5.2% Friday, erasing nearly a quarter of the country’s three-month market upswing in a day. It was the measure’s biggest drop in 14 months.

Markets were also keeping a wary eye on the Group of 20 meeting in Seoul, where leaders of the world’s largest economies vowed action Friday to seek more balanced growth but delayed until next year the contentious work of defining problems that threaten the global recovery. The U.S. and G-20 host South Korea ran into strong opposition from such exporting powers as China and Germany to a proposal to quantify limits on current-account surpluses and deficits.

In addition, the presidents of the U.S. and South Korea were unable to overcome disputes over cars, cattle and domestic politics, potentially killing the biggest bilateral trade deal the U.S. has taken up in more than a decade.

Tomato is misunderstood fruit.

Down coz of China lor. All see China now.

Sold what? Gen? I didn't load today. Only morning buy sell.

wat la... you don't know your own self.. tomato is a vege!!

USA down 88 points... lucky I sold it today... Monday you see la.

CANNOTFIND , I leave message in suggestion box scold k. Tan no time for me, he go party already! GAECIA, I go spend there and boost the earnings so Q4 huat ah!

Ha ha, life is usual, no one will touch me loh. Cheers.

well said.

http://www.youtube.com/watch?v=l9K4BKkLaCI

watch what he reads at 0.54s. lol 

iPunter      ( Date: 12-Nov-2010 20:23) Posted: For true seasoned traders,       whether the market goes up or down,           and if it goes against one's positions,               it is neither something to be sorrowful or excited about.                  One simply needs to dump the wrong position...