Futures Movers: Oil prices slump after weak China data


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Oil futures slumped Tuesday, feeling pressure after another round of disappointing economic data out of China, which was followed by interest rate cuts by the central bank in Beijing.

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Data released Tuesday showed China’s retail sales and industrial production grew less than expected in July. The figures followed other lackluster data and comes amid worries over severe distress in the countries property sector, which prompted a series of interest rate cuts by the People’s Bank of…

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Alexandra Williams
Alexandra Williams
Alexandra Williams is a writer and editor. Angeles. She writes about politics, art, and culture for LinkDaddy News.

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