U.S. futures are also off, with Dow futures trading down about 50 points.
Most importantly, China's trade surplus narrowed in July, to $25.1 billion from $31.7 billion in June. That number came in below expectations for a $35.2 billion trade surplus, according to analysts polled by Dow Jones.?This corresponded to a mere 1 percent growth in exports from a year ago (versus expectations of 8 percent) and a 4.7 percent growth in imports (versus expectations of 7 percent).
Slowing demand and production in China signal underlying weakness in global markets.
More interesting, however, may actually be the lack of a sell-off in Europe. Admittedly, most of Europe goes on vacation in August, but the European Central Bank has left euro-area conditions notoriously unsettled.?
Source: http://www.businessinsider.com/morning-markets-10-2012-8
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