Global financial markets declined in March 2019 as fears of a slowing world economy intensified, with U.S. stocks posting their longest losing streak in nearly five decades. The Dow Jones Industrial Average fell 22.99 points on Friday, marking its 11th consecutive day of losses—the longest such run since April 1972.
Weak U.S. employment data and deteriorating economic indicators in China compounded investor anxiety. Chinese exports contracted 20.7% year-on-year in February, while imports fell 5.2%, signaling deepening global demand concerns. U.S. trade officials confirmed no new plans for in-person negotiations with China, though progress in talks was acknowledged.
The S&P 500 and Nasdaq Composite also dropped, with the S&P 500 ending the week 2.2% lower and the Nasdaq slipping 2.5%. European markets suffered their worst weekly declines of the year, as the STOXX 600 index fell 0.89% on Friday and posted its largest daily drop in a month.
The U.S. dollar weakened for the first time in eight sessions, with the euro rising to $1.1232. Bond yields declined as investors sought safer assets, while oil prices fell amid worries about surging U.S. supply and global demand. U.S. crude settled at $56.07 per barrel, down 1.04%.
Analysts noted the U.S. economy was no longer a standout performer in a weakening global landscape. 'The U.S. has been the best house in a lousy neighborhood and maybe that is changing,' said Paul Nolte of Kingsview Asset Management.
