Global markets entered the new week with a decline due to weak economic signals from China.
After the weak data was announced in China, US futures indexes started the week with a decline. The S&P 500 and the Nasdaq 100 are both on the decline after falling 2.4 percent over the past week. Oil prices fell for the first time in three trading days after data was released in China.
Industrial production and retail sales in China fell to their lowest levels since 2020. Industrial production in the country fell by 2.9 percent in April compared to the same month of the previous year. The unemployment rate was also announced as 6.1 percent, above the expectations of 6 percent.
