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While in the U.S. the S&P 500 has declined less than 10% since mid-March, global markets outside of the U.S. have been in serious corrections. The stock markets of the world’s next 11 largest economies have plunged an average of 18.4% and show few signs of bottoming. Several have exceeded the 20% decline that defines entry into a bear market.
interesting web sites Meanwhile, the economic growth in China will witness a moderating phase during the second quarter of this year as the government tightened monetary policy cracked down its stimulus to cool inflation gains which caused an ease in manufacturing sector expansion.
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china blogs On Friday, the Labor Department released a bomb of a jobs report. Only 69,000 new jobs were created in May, versus already pessimistic forecasts of 150,000. And perhaps worse, as it provides further evidence that the economy has been weaker even than feared, the previous report for April that 115,000 jobs had been created was revised down to only 77,000.
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