China today dropped its key interest rate by a quarter percent -- the first cut since 2008. The move shows the Chinese government is becoming concerned about the new evidence of a slowdown in the global economy.
The interest rate on 10 year government bonds is back up above 1.5 percent and Oil is down to $82 a barrel in New York trading. There are signs of a slowdown in Chinese manufacturing and continual uncertainty about the debt crisis in Europe.
Stocks are down all over the world this morning as investors have their first chance to react to the Labor Department's May jobs report that came out on Friday. But the negative market sentiment isn't just about jobs.
World financial markets have been see-sawing in recent days amid talk China may or may not give an extra stimulus to its economy. China, the world's second largest economy, growth was running near 9 percent last year.