Financial markets still fragile and jittery
Share prices across global markets experienced a renewed bout of volatility in the past week, mainly sparked by disappointing foreign trade figures for China. All had been relatively quiet until Thursday, but when European markets woke up to the news that Chinese exports had slumped by no less than 10% on their year-earlier showing, the mood rapidly changed. Imports also contracted by more than the markets had been holding out for (by 1.9%). Obviously, financial markets remain exceedingly sensitive to any disappointments about China’s economy and, other than this, there wasn’t much in the way of fresh data that could have such a major impact on share prices.