Overseas markets also fell sharply Monday on concern about tensions between two of the world's largest economies.
Late Friday, the U.S. administration imposed trade penalties on tires coming into the country from China. The Chinese government quickly condemned the move and filed a complaint with the World Trade Organization, calling it protectionist and a violation of global trade rules.
President Barack Obama has until Thursday to accept, reject or modify a U.S. International Trade Commission ruling that an increase of Chinese tires moving into the U.S. hurts American producers.
The growing tension comes ahead of the G-20 summit of rich and developing nations later this month in Pittsburgh.
In early trading, the Dow Jones industrial average is down 66.20, or 0.7 percent, at 9,539.21. The Standard & Poor's 500 index is down 7.20, or 0.7 percent, at 1,035.53, while the Nasdaq composite index is down 14.08, or 0.7 percent, at 2,066.82.
Yesterday’s Top Performing Small Cap stock:
GWS Technologies, Inc. (OTC BB: GWSC) was a SmallCapVoice.com top performer yesterday closing up over 8% on trading volume of 187,200 shares.
GWS Technologies, Inc., an alternative energy company developing and marketing solar and wind-powered renewable energy products and solutions, today commented on the September 2, 2009 ruling by the Maricopa County Superior Court affirming that the Arizona Corporation Commission has the authority to set renewable energy standards and allow utilities to collect tariffs to meet them.
“This ruling is widely seen as a big win for Arizona’s solar industry and will provide incentives to promote more renewable energy developments in the state,” said GWS President Richard Reincke. Mr. Reincke cited media reports that a “modern-day land rush is under way in the deserts of Arizona and the Southwest” as public utilities and speculators vie for vast tracts of public and private land on which to build solar-power plants. He also cited a report by the National Renewable Energy Laboratory that Arizona has some of the richest solar land in the country, with much of the prime land for solar use situated along the Interstate 10 corridor between Buckeye and the California state line. GWS Technologies is currently developing plans for solar farms in Arizona and a combined solar and wind farm in Lubbock, Texas.
Today’s SmallCapVoice.com Hot Stock to Watch:
Mantra Venture Group Ltd. (OTC BB: MVTG)
A new audio Interview with John Russell, Vice President of Technical Evaluation of Mantra Venture Group Ltd., is now at SmallCapVoice.com. The interview can be heard at http://smallcapvoice.com/blog/9-11-09-audio-interview-with-mantra-venture-group-ltd-otcbb-mvtg/.
Mantra, through its group of sustainable energy, carbon reduction and consumer product subsidiaries, is active in the green technology marketplace with an innovative, multi-faceted approach focused on profitability through sustainability. By aggressively seeking out new technologies and innovating solutions for a cleaner earth for everyone, Mantra intends to provide a highly profitable and, more importantly, socially and environmentally responsible investment for its shareholders.
SmallCapVoice.com is a recognized corporate investor relations firm, with clients nationwide. Known for its ability to help emerging growth companies build a following among retail and institutional investors, SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, audio interviews, as well as its client's financial news releases. SmallCapVoice.com also offers individual investors with all the tools they need to make informed decisions about the stocks they are interested in. Tools like our stock charts, stock alerts, and our investor fact sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets.
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Stuart T. Smith