US stocks have suffered their worst loss in seven weeks amid weak data from Japan and a disappointing outlook from retailer Lowe's Companies.
Japan's gross domestic product showed its economy pulled out of recession in the second quarter, but slower than expected. This promoted a sell-off in major Asian markets that spilled over into Europe and North America.
Lowe's Companies, the second largest US home improvement retailer, fell more than 10 percent on Monday after releasing its quarterly report. The results amplified worries about weak consumer spending following last week's poor data on US consumer sentiment and retail sales.
The Dow Jones industrial average on Monday dropped 2 percent. The Standard and Poor's Index slid over 2.4 percent. And the Nasdaq Composite Index lost 2.8 percent.
(CCTV August 18, 2009)
