Fastener Stocks Weather "China" Market Correction
August 26
00:00
2015
FEATURE
Fastener Stocks Weather “China” Market Correction
The “market correction” roiling international investors related to a slowdown in China has largely missed the fastener industry.
“Investors cited more worries that a slowdown in China could hobble global growth, even after the country’s central bank cut interest rates on Tuesday for the second time in two months,” Reuters reports. “The move came after Chinese stocks slumped 8% on Tuesday, on top of an 8.5% drop on Monday.”
The “global market meltdown” has put pressure on oil prices, now at their lowest since the global recession of 2008.
But public companies with fastener segments have largely escaped the fallout – for now.
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