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Asia shares, U.S. stock futures hit as China’s export slump jolts investors

Asian shares and U.S. stock futures skidded on Monday after a shock contraction in Chinese exports pointed to deepening cracks in the world’s second-biggest economy and raised fears of a sharper slowdown in global growth and corporate profits.

E-minis for the S&P 500 declined 0.8 percent, in an indication of heightened risk aversion. Spreadbetters also pointed to a weak start for Europe while FTSE futures slipped 0.4 percent.

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