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.
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:
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.