AFP, (24/01) -- US stocks sank Thursday
following a weak report on Chinese manufacturing activity and the latest
batch of lackluster corporate earnings.
 At the closing bell, the Dow Jones Industrial Average slumped 171.69 (1.05 percent) to 16,201.65.
The broad-based S&P 500 fell 16.02
(0.87 percent) to 1,828.84, while the tech-rich Nasdaq Composite Index
fell 24.36 (0.57 percent) to 4,218.64.
Data suggested investors fled the equity
market for US Treasuries, with the yield on the 10-year bond falling to
2.77 percent from 2.86 percent Wednesday.
HSBC's China manufacturing sector
purchasing managers index fell to 49.6, below the line between growth
and contraction, raising concerns about the prospects for the world's
second largest economy.
The China report came amid a mixed batch
of corporate earnings reports with strong earnings from Netflix offset
by disappointing results from Lockheed Martin and others.
Michael James, managing director of
equity trading at Wedbush Securities, said Thursday's China data, while
'concerning,' is 'just one datapoint.'
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