Yields slip, stocks struggle as economic fears grow
NEW YORK, May 16 (Reuters) – American and European equity markets wobbled and U.S. Treasury yields fell on Monday after unexpectedly weak economic data from China and a big slide in New York state’s factory activity painted a bleak picture for economic growth across the world.
Chinese retail and factory activity fell sharply in April as COVID-19 lockdowns severely disrupted supply chains while New York factory output slumped in May for the third time this year amid a collapse in new orders and shipments. read more
The Chinese data cast a long shadow over the outlook for the world’s second-largest economy while the steep drop in New York factory output could be an early signal of the impact on manufacturing of the Federal Reserve’s aggressive monetary policy posture.
Register now for FREE unlimited access to Reuters.com
Register
MSCI’s gauge of stocks across the globe (.MIWD00000PUS) shed 0.37% and Treasury yields fell, with the…
