China February exports tumble the most in three years, spur fears of ‘trade recession’
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(Worthy News) – China’s exports tumbled the most in three years in February while imports fell for a third straight month, pointing to a further slowdown in the economy and stirring talk of a “trade recession”, despite a spate of support measures.
While seasonal factors may have been at play, the shockingly weak readings from the world’s largest trading nation added to worries about a global slowdown, a day after the European Central Bank slashed growth forecasts for the region.
Asian stock markets and U.S. futures extended losses after the data. Chinese stocks sank over 4 percent in their worst day in five months.[MKTS/GLOB] [ Source: Reuters (Read More…) ]
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