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German manufacturing just slumped to the lowest level since the financial crisis — and it's a major warning sign for the global economy
  • US and European stock markets fell after a survey of German manufacturers delivered its lowest reading since the financial crisis.
  • The German PMI fell from 47.6 in February to 44.7 in March due to sharp declines in new orders, lower work backlogs, and firings.
  • France's PMI data also fell as demand for exports tumbled amid yellow-vest protests and turmoil during the Algerian elections.
  • You can see all of Business Insider's coverage of Germany's economic crisis here.
  • European equities are in the red. France's CAC 40 and Britain's FTSE 100 are both down 0.9%, the Euro Stoxx 50 is down 0.8%, and Germany's DAX is down 0.5%.
  • US stock markets are set to open lower, with Dow, S&P 500, and Nasdaq futures all down by around 0.5%.
  • Asian stocks closed flat, with China's Shanghai Composite Index, Japan's Nikkei, and Hong Kong's Hang Seng all within 0.2% of their opening levels.

Full "The Business Insider: The Money Game" article

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