Traders are getting disappointing economic reports from Japan, China, and the euro zone.
I thought a weaker euro would support exports? Yet eurozone PMI data was below expectations, as new orders slowed.
And what about China? Its PMI fell to its lowest level in a year, to 49.2 from 49.6 in March. A reading below 50 indicates contraction.
That means more stimulus. On Sunday China's central bank cut the reserve requirement ratio for banks, which frees up more money for lending.
It sounds like a cut in interest rate is coming next.