How China affects US economy?

How China affects US economy?

NEW YORK (APP) - Wall Street stocks finished lower Thursday following weak Chinese trade data, with large US banks retreating on the eve of major earnings reports.

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Chinese exports sank 10.0 percent year-on-year in September and imports fell 1.9 percent, showing a sharp slowdown in trade in the world's second-biggest economy.

JPMorgan Chase, Citigroup and Wells Fargo all fell ahead of earnings releases Friday morning.

At the closing bell, the Dow Jones Industrial Average stood at 18,098.87, down 0.3 percent after earlier having pared more than 1 percent.

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The broad-based S&P 500 lost 0.3 percent at 2,132.55, while the tech-rich Nasdaq Composite Index dropped 0.5 percent to 5,213.33.

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