Markets are open in Asia, and they’re down early in the trading session.
Japan’s Nikkei is down 0.4%
Korea’s Kospi is flat.
Australia’s S&P/ASX is down 0.3%
This comes in the wake of a big sell-off in the U.S. markets where the Dow fell by 138 points.
Manufacturing purchasing managers index (PMI) reports from China and the U.S. point to a deceleration in global growth.
Later today, we will get the HSBC manufacturing PMI report from China. Economists surveyed by Bloomberg are looking for a reading of 50.5, down from 51.6 a month ago.
Any reading above 50 signals expansion. However, a falling number signals deceleration.