Wall St sinks on China, earnings

US stocks lose 1% on mixed earnings results, weak China data.

United States stocks are sharply lower in early afternoon trade after a report showed that Chinese manufacturing contracted for the first time in six months in January. Investors were also not enthused by the latest batch of earnings and data from the US.

At 0445 AEDT, the Dow Jones Industrial Average had lost 171.33 points, or 1.05%, to 16,202.01.

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