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August 16, 2018
NEW YORK (AP) — Deepening worries about global economic growth, particularly in China, set off a rout in riskier assets including technology stocks, copper and crude oil Wednesday. U.S. retailers took a drubbing after Macy's reported weaker sales.
An unexpected drop in profits for Chinese tech giant Tencent surprised investors and added to some recent concerns about the health of China's economy. Tencent, a gaming and messaging company, and it's the most valuable technology company in China.
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