FYI: Major U.S. stock indexes fell Friday, putting them on pace for their worst week since December, as swelling concerns about slowing global and U.S. economic growth further hindered this year’s rally.
Data showing a sharp slowdown in U.S. hiring growth last month rounded out a troubling week for investors that also coincided with the 10th anniversary of the bull market.
Investors sold equities broadly, knocking all three major indexes down at least 2.6% since Monday, their worst weekly performance since late December.
The downbeat performance comes on the eve of the bull market turning 10 years old. Saturday will mark the 3,653rd day since the S&P 500 began its bull run in the wake of the financial crisis. Although it is the longest bull rally by some measures, the broad index’s more-than-300% rise since 2009 ranks as its third-biggest ever.
The Dow Jones Industrial Average was down 23 points, or 0.9%, to 25450 in recent trading, while the S&P 500 slid 0..21%. The Nasdaq Composite also declined, shedding 0..18%.
Friday’s declines came after Labor Department data showed U.S. nonfarm payrolls rose a seasonally adjusted 20,000 in February, missing economists’ expectations of 180,000 new jobs.
On Friday, eight major S&P 500 sectors fell Friday, from high-growth technology stocks to industrials, however Materials led the three winners
Energy stocks bore the brunt of Friday’s selling, with the sector falling 2.2% in recent trading alongside a nearly 3% slide in crude oil prices.
Major indexes overseas haven’t fared any better. Shares in China suffered their biggest losses since October after a report Friday showed Chinese exports slid 20.7% in February from a year earlier—a much steeper decline than economists had expected. Imports tumbled 5.2%, also a bigger drop than expected.
The Shanghai Composite Index fell 4.4% and its smaller Shenzhen counterpart dropped 3.8%, their biggest single-day falls in five months.
Meanwhile, in Europe, plans by the ECB to deploy additional stimulus Thursday suggested policy makers had become increasingly concerned about the slowdown across the region, analysts said.
The Stoxx Europe 600 fell 0.9% Friday, extending the index’s weekly loss to 1%—also its largest pullback since December.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-03-08/your-evening-briefinghttps://
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/5-day-slump-costs-774-points-dow-jones-5-growth-stocks-show-strength-pullback/Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-drops-on-paltry-jobs-growth-global-slowdown-worries-idUSKCN1QP1CKCNBC:
https://www.cnbc.com/2019/03/08/stock-market-nonfarm-payrolls-in-focus-after-china-exports-plummet.htmlU.K.:
https://www.marketwatch.com/story/ftse-100-falls-after-slowdown-fears-reignite-gvc-holdings-tumble-17-2019-03-08/printEurope:
https://www.marketwatch.com/story/asian-markets-sink-on-trade-deal-worries-weak-china-export-data-2019-03-07/printAsia:
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.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx 
