Stocks Down on Chinese Economic Worries (JPM, GOOG)

Stocks were down today as news about a decline in GDP growth in China and reduced consumer sentiment in the US created pessimism among investors. In corporate news, JPMorgan (JPM) had a remarkable Q1, bringing in $27 billion in revenue. Meanwhile, Google (GOOG) announced that it would be splitting its stock, though in such a way as to keep control of the company among the founders.

Word on the Street

• China’s GDP growth slowed to just above 8 percent.
• JPMorgan’s (JPM) Q1 revenue was up to $27 billion.
• Chairman Ben Bernanke defended the Federal Reserve’s response to the crisis.
• Google (GOOG) announced that it would be splitting its stock.
• Oil option volatility has declined.
• US consumer sentiment is down for the month.

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