U.S. stocks declined with emerging- market equities while base metals drove commodities lower as an unexpected drop in Chinese exports fueled concern that growth in the world’s second-largest economy is moderating.
The amount of debt globally has soared more than 40 percent to $100 trillion since the first signs of the financial crisis as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates.
China’s exports fell the most since the global financial crisis, dealing another blow to confidence as Communist Party leaders meeting in Beijing assess the risk from the nation’s first onshore bond default.
Federal Reserve economists warned in December 2008 that five years could pass before growth revived enough to warrant raising interest rates from near zero, as the magnitude of the economic meltdown dawned on Fed officials.
U.S. stocks rose a second week, sending the Standard & Poor’s 500 Index to a record, as better- than-forecast data on hiring and manufacturing fueled optimism in the economy and overshadowed concern on Ukraine.
Former Federal Reserve Chairman Ben S. Bernanke said the U.S. economy should continue to recover, and he expects the central bank will continue to provide support to growth until the labor market is fully healed.