Markets Stumble After China Slashes Growth Target For 2015, Warns “Downward Pressure Growing”

zerohedge.com / by Tyler Durden on 03/04/2015 20:25

You wouldn’t know it if you looked at the price of oil, but arguably the world’s largest economy just unloaded a kitchen sink of fears, warnings, and downgrades on its economy; the most notable being:

*CHINA SETS 2015 GDP GROWTH TARGET AT ABOUT 7% (from 7.5% in 2014)

In a report to be delivered to the government tonight, Premier Li Keqiang warned China may face more economic difficulties in 2015 vs 2014 and downward economic pressure is still growing(despite Western ‘analysts’ proclaiming China fixed). The currency is weakening on the news and AsiaPac stocks are lower and as Chinese stocks open lower (despite hints at more easing), millions of newly minted “can’t lose” Chinese investors begin to worry.