The Conference Board and China Sparked Today&#39;s Market Selloff

Markets around the globe -- beginning in Asia, where the Shanghai Index dropped 4.27%, continuing through Europe, where the FTSE 100 lost 3.10%, and ending in the United States, where the S&P 500 has already plunged nearly 3% -- fell today.

The bearish action was sparked when the Conference Board revised its leading economic index for China down from 1.7 to 0.3 percent. The Conference Board had initially released its index on June 15, but it had to retract its announcement and release an updated number because the previous number had a calculation error in it.

You may be wondering, what is the Conference Board and why does its Chinese index matter so much? If so, you're not alone.

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The Conference Board and China Sparked Today's Market Selloff originally appeared on BloggingStocks on Tue, 29 Jun 2010 17:00:00 EST. Please see our terms for use of feeds.

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