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The Closing Bell: Asia & Europe: Global Stocks Weaken As China’s Growth Slows
FYI: Global stocks lost momentum Monday after data showed that China’s economy grew at its slowest pace in nearly three decades last year, the latest sign that the world economy is decelerating.
The Stoxx Europe 600 finished down 0.2%, snapping a four-trading-day winning streak. Asian markets trimmed gains after the Chinese data release, finishing slightly higher on the day.
U.S. markets are closed Monday for Martin Luther King Jr. Day. Futures for the S&P 500 were down 0.3%.
The world’s second-largest economy grew 6.6% in 2018, the slowest annual pace China has recorded since 1990, official data showed Monday. The economic downturn, which has been sharper than Beijing expected, deepened in the last months of 2018, with fourth-quarter growth rising 6.4% from a year earlier.
