FYI: Global stocks slid Friday, as Chinese shares suffered their worst day since October after weak exports data added to renewed concerns about the health of the world economy.
The Shanghai Composite Index fell 4.4%, while its smaller Shenzhen counterpart dropped 3.8%, their biggest single-day drops in five months. The technology-focused ChiNext Price Index shed 2.2%, and the dollar strengthened against the yuan in onshore trading.
Chinese exports last month were down 20.7% from a year earlier, official data Friday showed—a much steeper decline than economists had expected. Imports tumbled 5.2%, also a bigger drop than expected.
Chinese exports last month were down 20.7% from a year earlier.
Elsewhere in the region, Japan’s Nikkei 225 closed 2% lower, while Korea’s Kospi lost 1.3%.
The Stoxx Europe 600 dropped 0.6% in the opening minutes of trade, putting it on course for a third consecutive day of declines. Losses were felt most in index’s autos and parts and basic resources sector, which fell 1.7% and 1.4% respectively.
U.S. stocks futures were lower, putting the S&P 500, Dow Jones Industrial Average and Nasdaq Composite all on course for a fifth day of consecutive declines. S&P 500 and Dow Industrials futures fell 0.4%, while Nasdaq-100 futures slipped 0.5%.
Government bonds continued to strengthen Friday. The yield on the U.S. benchmark 10-year Treasury note was unchanged from late Thursday at 2.637%, according to Tradeweb. Bond yields move inversely to prices.
In commodities, oil futures also fell sharply with Brent crude, the global benchmark down 1.2% at $65.48 a barrel. Gold rose 0.7% to $1,294.50 an ounce.
Regards,
Ted
MarketWatch:
https://www.marketwatch.com/story/us-stock-futures-drop-as-gloomy-china-trade-report-adds-to-global-growth-fears-2019-03-08/printWSJ:
https://www.wsj.com/articles/chinese-shares-suffer-worst-day-in-five-months-as-exports-slump-11552032854Bloomberg:
https://www.bloomberg.com/news/articles/2019-03-07/stock-slide-to-extend-to-asia-amid-growth-worries-markets-wrapIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-current-stock-market-rally-tesla-stock-okta-stock-costco-stock-upland/CNBC:
https://www.cnbc.com/2019/03/08/stock-market-nonfarm-payrolls-in-focus-after-china-exports-plummet.htmlEurope:
https://www.reuters.com/article/us-europe-stocks/cocktail-of-poor-data-drives-european-stocks-further-down-idUSKCN1QP0U5Asia:
https://www.marketwatch.com/story/asian-markets-sink-on-trade-deal-worries-weak-china-export-data-2019-03-07/printBonds:
https://www.cnbc.com/2019/03/08/us-bonds-treasury-yields-in-focus-ahead-of-nonfarm-payrolls-data.htmlCurrencies:
https://www.cnbc.com/2019/03/08/forex-markets-euro-ecb-us-jobs-data-in-focus.htmlOil:
https://www.cnbc.com/2019/03/08/oil-markets-ecb-european-economy-us-crude-supply-in-focus.htmlGold:
https://www.cnbc.com/2019/03/08/gold-steadies-as-ecb-stance-drag-equities-us-jobs-data-eyed.htmlCurrent Futures:
https://finviz.com/futures.ashx 
