Wall St slide unlikely to undermine support for US stocks: Wall Street’s selloff on Monday, sparked by a near-9% dive in Chinese shares, was a long-overdue correction that analysts said is unlikely to undermine support for US stocks going forward. “We are unlikely to be going into a bear market,” said Jason Ware, chief investment officer at Albion Financial Group, which manages about US$1 billion for clients. “There are a number of positive things happening under the surface of all this chaos and it is easy to forget those things when you see these types of moves.” The Dow tumbled 3.6% and the S&P 500 dropped 3.9% on Monday. — Reuters
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