We can thank modern globalization for synchronous downturns. But then again, who needs a real economy or growth anywhere when financial riggers have HFT, free money and government support and underwriting at their beck and call.
Manufacturing Purchasing Managers Indexes disappointed everywhere today.
Japan, China, France, Germany and the U.S. all had PMI reports out today that missed expectations. Japan, China and France had readings below 50, signifying contraction.