1. China data hits stocks and commodities
U.S. stock futures are dipping lower and the main market indexes across Europe and Asia are in the red.
This follows a weak economic report out of China that shows imports and exports continued to fall last month. The yuan-denominated value of exports from China fell 3.7% in November, marking the 13th consecutive monthly decline. And imports fell for a fifth straight month, down by 5.6%, according to official data.
This is putting pressure on mining and commodity companies. Shares in BHP Billiton (BBL), Glencore (GLNCY) and Anglo American (AAUKF) are all sinking by about 5% in London as traders expect Chinese demand will continue to wane.
Crude oil, natural gas, copper, iron ore and aluminum are trading around some of the lowest levels they've seen in years. The S&P Goldman Sachs Commodity index has declined by 24% since the start of 2015 and is now trading near recession levels set in early 2009.