Slowdown concerns stoked this morning by EU manufacturing PMI readings for April out of the eurozone that were weaker than March &JOLTs – Job Openings Report for March that showed openings shrinking to 9.590 million from 9.974 million in February, and a 0.6% decline in nondefense capital goods orders, excluding aircraft, for March.
Global growth concerns have also manifested themselves in falling commodity prices.
WTI crude oil futures are down 4.9% to $71.95/bbl and copper futures are down 1.9% to 3.86/lb.
The sharp decline in oil prices has contributed to the underperformance of the S&P 500 energy sector (-4.8%), which is buried in last place by a wide margin. Unsurprisingly, the financials sector (-2.9%) is another top laggard today.