Weak Manufacturing Data in US & China

Data released last night showed a slowing in China's Manufacturing PMI, as shown below, while today's (Tuesday's) data also shows a slowing in the US PMI Manufacturing Index and Richmond Fed Manufacturing Index, as shown below.

Add these to the recent mix of weakening data, as I've written about here, here, and here, and you will see that the markets are ignoring (and bear no relationship to) economic fundamentals.

Data Sources: Nasdaq and ForexFactory

Note the radical difference in market reaction between the Asian indices and US indices, as of 10:15 am EST today (Tuesday). Precious metals (as well as Copper) are currently down.

World Market Index Source: http://www.indexq.org/