Several economic indexes of the United States revealed on Friday went down, as investors expressed concerns over the Trump administration's tariffs plans.
The S and P Global U.S. Composite PMI, which gauges activity in the manufacturing and services sectors, went down to 50.4 in February, below the reading of 52.7 in January, according to results of surveys published on Friday.
Chris Williamson, chief business economist at the S and P Global Market Intelligence, said the decline shows that businesses are generally concerned about the potential impact of U.S. government policies, including changes in tariffs and domestic spending cuts.
On the same day, the Consumer Sentiment Index released by the University of Michigan (UM) Surveys of Consumers fell to 64.7 in the February 2025 survey, down from 71.7 in January and at its lowest reading since November 2023.
As weaker-than-expected economic data raised concerns over inflation and growth, the U.S. stocks suffered deep losses on Friday.
The Dow Jones Industrial Average fell 748.63 points, or 1.69 percent, to 43,428.02. The S and P 500 sank 104.39 points, or 1.71 percent, to 6,013.13, and the Nasdaq Composite Index shed 438.36 points, or 2.20 percent, to 19,524.01.
Multiple U.S. economic indexes fall amid tariff concerns
China's two major power grid operators -- the State Grid Corporation of China (State Grid) and China Southern Power Grid (CSG) -- reported a surge in investment in the first quarter of 2026, underscoring efforts to strengthen infrastructure construction and support high-quality socioeconomic development in China.
The State Grid said it completed fixed-asset investment worth 129 billion yuan (about 18.77 billion U.S. dollars) in the first three months of this year, up 37 percent the corresponding period of the previous year. The spending has driven more than 250 billion yuan (36 billion U.S. dollars) of investment across the wider industrial chain.
Key projects such as the Panxi ultra-high-voltage (UHV) alternating current (AC) line and the Anhui-Hubei back-to-back direct current (DC) project have seen ground broken for their construction, while several west-to-east power transmission projects have been upgraded.
Investment in connecting renewable energy generation to the grid was reported to have exceeded 10 billion yuan (1.45 billion U.S. dollars) from January to March, a year-on-year rise of more than 50 percent.
The CSG also reported robust growth in investment in the three-month period, with fixed-asset investment reaching 38.45 billion yuan (5.58 billion U.S. dollars), up about 50 percent from a year earlier.
Among its achievements, the company completed and commissioned 80 key projects, including the 220 kV cross-sea power grid interconnection project, which was officially put into operation on March 20. The project ended years of grid isolation on the Weizhou Island in south China by linking it to the main power system of the Guangxi Zhuang Autonomous Region.
The construction of 17 other major energy projects, including one linking the power grid of the Xizang Autonomous Region in southwest China with that of Guangdong Province in south China, is advancing rapidly. These projects are expected to bolster regional industries, the maritime economy, digital collaboration and the transition to green energy.
"By accelerating major project construction, investment during the 15th Five-Year Plan period (2026-2030) is expected to approach 1 trillion yuan (145 billion U.S. dollars), driving a further 2 trillion yuan (290 billion U.S. dollars) of investment across upstream and downstream industries," said Dong Yanle, deputy general manager of the Engineering Construction Department under the China Southern Power Grid.
China ramps up power grid investment in January-March to boost growth
