Global stocks sold off sharply on the first trading day of 2016 following fresh signs of an economic slowdown in China. Weaker-than-expected manufacturing data and a falling currency triggered declines in mainland Chinese stocks so steep that authorities halted trading there for the rest of the day. European stocks also fell sharply, with the Stoxx Europe 600 down 2.2% in early trade, led by a 3.3% drop in Germany’s exporter-heavy DAX index. Meanwhile, futures markets pointed to a 1.4% opening loss for the S&P 500. Changes in futures aren’t necessarily reflected in market moves after the opening bell. “The rout in China is placing pressure on markets more globally,” said economists at Investec in a note. Losses in European equities were led by the basic resources and auto sectors, which are both sensitive to Chinese demand. The moves came after data showed Monday that Chinese factory activity fell in […]