The U.S. stock market showed signs of a rebound Tuesday. But reporter Matthew Kish with Portland Business Journal said 18 of Oregon’s 20 largest companies saw their shares lose value during the big crash on Monday.
Most of those Oregon companies were doing better Tuesday, Kish said, but he added that Oregon’s geographical proximity to China exposes the state to more risk.
“Oregon exports a lot to China. It’s our No. 1 export partner. Roughly 20 percent of our exports end up in China, $4.3 billion in 2014," Kish said. "A lot of that is computers and electronic parts. But as that economy weakens, that’s not good news for Oregon, because that’s one of our biggest trade markets.”
Kish said Oregon companies export a lot globally. As China and other foreign markets wobble, the dollar grows stronger, and that means it’s tougher for U.S. companies to sell abroad.
Kish said Nike and Columbia Sportswear, for example, are both reporting record sales and earnings, but having some trouble with currency costs in foreign countries.
Copyright 2015 Oregon Public Broadcasting
