Stocks are at record highs, the VIX is at a 10-year low, and while investors are relieved the French presidency did not go to an anti-euro candidate, new risks are filling the void.
Topping the list of market worries is China, which has been on the back burner for months now. Some weaker-than-expected data, however, has put spotlight on the country’s economy.
Last week, PMI manufacturing data showed signs of slowing, and China’s trade data overnight was weaker than expected, with misses both on imports and exports. Chinese inflation data was due Tuesday.
“I’m more concerned about the risks stemming from a China slowdown,” said Jeff Kleintop, Charles Schwab chief global investment strategist.
Commodities have sold off on concerns. Copper was down about 3 percent last week amid concerns about China, and off another 1.4 percent Monday.
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