Mind Your Footings: The Global Slope Is Getting Slippery
Ford and Nissan last week reported big drops in their Chinese business and the German export numbers also point to a more considerable slowdown there. Emerging markets will feel the pain of a slower China and stocks there, which had been a bright spot this year, are now in official correction territory, down over 10% from their peak. ........ But watch those oil prices. They might be a slippery slope that leads directly to recession.