Futures sank as much as 300 points on Wednesday morning to kick off 2019 after China kicked out some rather dismal economic data on Wednesday.
Markets continue to be skidish as we start to see the full affect of Trump’s trade tariffs. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) for December came in at 49.7 which is the first time in over a year and half that it was been under 50, signifying a contraction in manufacturing.
It looks like a new year won’t help markets regain their losses. The S&P 500 finished down over 6% in 2018 on top of finishing the worst performance in December since the Great Depression.