Lots of technical levels breaking down. We are on the precipice.

Stock selloff snowballs on fresh fears for world growth

NEW YORK (Reuters) – A gauge of global equities stumbled on Monday, putting it on track for its fifth straight daily decline, as losses in Europe and Asia extended to Wall Street on new signs the U.S.-China trade spat was impacting world economic growth.

Further denting sentiment was confusion stemming from the vote by Britain’s parliament’s on Prime Minister Theresa May’s Brexit deal after May abruptly pulled it on Monday.

Sluggish data from the world’s largest economies including the U.S, China, Japan and Germany have disappointed investors in recent days, and skepticism has grown that Washington and Beijing will be able to reach a trade deal before a 90-day window expires.

China reported far weaker-than-expected November exports and imports, showing slower global and domestic demand and raising the possibility authorities will take more measures to keep the country’s growth rate from slipping too much.

 

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