Wall Street Down Amid China Worries

FOX Business: The Power to Prosper Growing anxiety about China's growth prospects hit Wall Street on Tuesday, knocking the major market averages off of multi-year highs. Today's Markets As of 11:00 a.m. ET, the Dow Jones Industrial Average fell 75.5 points, or 0.56%, to 13165, the S&P 500 dipped 7.3 points, or 0.51%, to 1403 and the Nasdaq Composite slipped 19.8 points, or 0.65%, to 3058. Australian BHP Billiton (BHP: 72.75, -2.76, -3.66%) sees demand for iron ore, which is part of the production process for steel, "flattening" to single-digit growth, according to Reuters, citing the company's CEO. The statement from the world's biggest miner speaks to broader growth concerns for the country, which has seen its furious economic expansion slow down recently. The news hurt big U.S. industrial names. Notably, Caterpillar (CAT: 110.95, -2.78, -2.44%) fell more than 2%, shaving 22 points from the Dow's overall performance. The heavy machinery giant saw its world retail machine sales jump 21% for the three rolling months ended in February, with sales in North America leaping 39%. Continue reading this article

.