Crude-oil futures continued to slide in Asian morning trade Tuesday, after overnight losses that pushed oil prices to their lowest in more than five years. Data showing a further slowdown in China’s manufacturing sector didn’t help market sentiment. HSBC’s China flash manufacturing purchasing managers’ index for December slid to a seven-month low of 49.5 compared with 50.0 in November. In the last three months alone, Brent crude has tumbled 40%, a level of adjustment that has only happened three times in the last 24 years, according to Morgan Stanley. Oil prices have now fallen around 47%-48% since their peak in June this year, their largest drop since the 2008-2009 financial crisis. The slump in oil prices is having a ripple effect across financial markets and economies but market participants are still unsure of where prices will bottom. “As the industry takes the ‘fat’ out of the system that was […]