The leading indicator that’s become everyone’s fixation, the Shanghai composite, fell again last night, losing another 1.2%.
It had taken a brief breather from the decline, but if you’re not paying attention, you should know that China is in the middle of a pretty severe bear market. It’s not your run-of-the-mill dip. Surprising right?
As for commodities, we’re looking mostly weak, with some really pronounced weakness in some of the former darlings of the whole set — palladium and platinum.
Palladium has really taken a dive this morning.
Meanwhile US futures are down just a touch — not big yet, but we’ve still got a long journey before the bell.