Scoreboard: Iron anvil

Iron ore tanked, pushing down on equities as fears over China’s trade data hit home.

As it turns out markets did indeed take a turn for the worse over the Chinese trade statistics. Most of the damage was in the commodities space though, especially iron ore, and this certainly weighed on equities. The fact that Europe is still underperforming, especially German markets, points to the Crimean crisis as still being a strong bearish influence though and of course we are still operating in an environment where many investors think markets are rich. We can’t get too bearish though -- US equities were bid last week and losses to date have been small.

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