Statements From China Chill the Market 4/28/04 10:57 AM ET
Market participants are blaming comments by Chinese Premier Wen Jiabao for the pressure on metals, gold, coal and various cyclical stocks. There has been concern for some time that the Chinese economy was overheated and needed to cool down in order to keep inflation in check. Premier Wen Jiabo stated, "We're focused on and are aware of this issue. We need to take effective and very forceful measures to resolve those problems as soon as possible."