Markets Are Selling Off After An Ugly Number From China

Not good.

Flash manufacturing PMI for March (a survey done by HSBC) went from 49.6 to 48.1, a number well shy of 50, which is the threshold for an economy that’s growing.

The Aussie dollar just tanked on the news.

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Other markets are selling off as well.

S&P futures have flipped from green to red.

This table from the report shows that basically every category in the index was weak:

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Two nights ago, markets sold off thanks to a demand warning from iron ore giant BHP Billiton.

We could be looking at a repeat now.

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