China's economic recovery showed signs of faltering as official data for April revealed that both industrial production and retail sales grew more slowly than analysts had expected. The figures have amplified concerns about the growth trajectory of the world's second-largest economy, highlighting persistent weakness in domestic demand and consumer confidence.
The disappointing data triggered a sharp sell-off in Asian markets, with stock indices in China and Hong Kong posting significant losses. Investors are now reassessing the potential for global economic headwinds, as a slowdown in China could have broad implications for international trade and corporate earnings.
Market Impact: In pre-market trading, S&P 500 Futures slid 0.51%, Dow Futures dropped 0.67%, and Nasdaq Futures fell 0.41%. In cryptocurrency markets, Bitcoin declined 1.64% and Ethereum fell 3.19% since the last session close.