Stocks Dip at Open on Growth Concerns

.S. stocks started lower on Monday, after a move by Chinese authorities to cool property prices, as worries about the prospects for global economic growth prompted investors to step back from equities. The Dow Jones industrial average lately shed 39.78 points, or 0.28 percent, to 14,049.88. The Standard & Poor’s 500 Index lost 2.42 points, or 0.16 percent, to 1,515.78. The Nasdaq Composite Index dropped 6.85 points, or 0.22 percent, to 3,162.89.

China’s property-related shares fell by the most in nearly five years on Monday on plans to tighten curbs on the housing market. The plans, announced by the cabinet late on Friday, include the stricter implementation of an existing 20 percent capital gains tax on home sales, strengthening restrictions on home buying and increasing loan rates for those buying a second home in cities where prices are rising too quickly.

The National Association for Business Economics’ poll of 196 members found more than 70 percent opposed the full implementation of $85 billion in federal budget cuts known as the “sequester” that were set to start taking hold last Friday.

Investor Warren Buffett said his biggest worry about the Federal Reserve’s policy of buying assets is how the markets will react once the central bank starts selling its holdings.In an appearance on CNBC Monday, the chairman of Berkshire Hathaway pointed to the sell-off in stocks a couple of weeks ago after the Fed’s minutes suggested some members supported slowing asset purchases from their current pace

As Japan’s central bank focuses on convincing the public that prices will soon go up again, a raft of indicators suggests that inflation expectations could already be on the rise.

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