UH-OH: Global Markets Are Diving After Terrible Numbers From China And Europe

fountain treviFontana di Trevi

Photo: Wikimedia Commons

It’s getting ugly out there.China’s HSBC Flash Manufacturing PMI number fell to 48.1 from 49.6 a month ago.  And a reading below 50 signals contraction in the sector.

This is not good news, especially on the tail of other anecdotal warnings of slowing in China.

Hours later, the Markit eurozone PMI number unexpectedly fell to 48.7 from 49.3 in February.  Economists were expecting the number to rise to 49.6.

Markets are selling off across the world.

England’s FTSE 100 is down 0.8%.

France’s CAC 40 is down 1.4%.

Germany’s DAX is down 1.4%.

Spain’s IBEX 35 is down 1.4%.

Italy’s FTSE MIB is down 1.1%.

U.S. markets are looking at a negative open right now.  Dow futures are down 70 points.

SEE ALSO: 10 Issues That Should Keep You Up At Night >

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.