On Friday, March 22, the US announced that Markit's initial manufacturing PMI for March hit a new low since June 2017:
The initial value of the US Markit composite PMI for March was 54.3; the initial value of the service sector PMI was 54.8; the initial value of the manufacturing PMI was 52.5.
Previously, the initial PMIs issued by Germany and France were poor.
The initial value of the German manufacturing PMI was 44.7, a 79-month low; both the French manufacturing and service PMIs fell far short of expectations, and both fell below the boom-and-bust line.
After the data was released, the decline in the three major US indices widened. As of press release, the NASDAQ fell 1.05%, the S&P fell 0.91%, and the Dow fell 0.96%. The panic index VIX rose 7.63%.
Market source: Futu Securities
Furthermore, the National Association of Real Estate Brokers released February existing home sales data on Friday. The data grew strongly, showing that demand for housing rose when mortgage interest rates fell last month.
After seasonal adjustments, existing home sales increased 11.8% in February, equivalent to an annual rate of 5.51 million units. Economists surveyed by The Wall Street Journal previously expected existing home sales to rise 3.2% to 5.1 million units in February.