Here we go again. Global markets are falling on weaker-than-expected economic data out of China and Wall Street sees more trouble ahead.
The Shanghai composite closed down 1.9 percent Tuesday as China's November export data declined by 6.8 percent year over year versus the negative 5 percent consensus estimate.
Bank of America Merrill Lynch's Sylvia Sheng believes the numbers signal a weakening global economy, saying in a note to clients Tuesday:
"The downside surprise in export growth came against favorable base and calendar effects, pointing to sluggishness in external demand from DM (developed markets). ... We believe the underlying trend in trade growth continues to weaken, which reflects persistent weakness in both global demand and fixed asset investment in China."
Other Wall Street firms agree more bad news is coming for the world's second-largest economy.
Here is what Goldman Sachs said on China and the companies that may be most at risk ...
Morgan Stanley raises its price target for Salesforce shares, predicting a large increase in its sales due to its MuleSoft deal.
Barry Rosenstein's hedge fund says it also has increased its holdings in Apple, which it has already pressured about iPhone addiction.
Jim Cramer warns Tesla critics about getting their hopes up that the federal government will penalize Musk for his tweet about going private.
Square's stock is poised for further upside now that cumulative downloads of its Square Cash app have surpassed those of Paypal's Venmo for the first time, according to Nomura Instinet.
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