Stock markets around the world are recovering today with Asian stocks closing slightly down, and European and New York markets opening higher. This was after a day in which stocks plummeted in China due to bad manufacturing news and worries about the Chinese currency, which led to a European stock sell-off and turned into a stock rout in the U.S. As far as new years go, the Dow drop of 276.09, or 1.58 percent, was the ninth worst first day in Wall Street history. Hotel stocks on the whole remained down, following a trend that started at the end of last year. Beyond China concerns, investors increasingly have concerns that the growing tensions between Saudi Arabia and Iran could lead to higher oil prices. To read more, click here.
