Shares of industrial and transportation companies fell sharply as Treasury yields rebounded.
Hopes that credit costs and inflation worries had peaked are wavering to start 2024.
The closure of Red Sea shipping routes following attacks on ships operated by freight lines such as Maersk has triggered worries about crude-supply disruptions.
The The China Caixin manufacturing purchasing managers index rose to 50.8 in December, up slightly from 50.7 in November, according to data released Tuesday by Caixin Media and S&P Global. China Evergrande New Energy Vehicle said an agreement for a Dubai-based automaker to subscribe to its shares has expired, raising fresh doubts about a potential cash injection for the Chinese electric-vehicle manufacturer.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-02-24 1720ET
