Investors Shrug Off Plunge in China Exports to U.S.

Exports from China to the U.S. plummeted last month, but that wasn't having much of an impact on the stock market. Investors were instead zeroing in on talks in London that they hope will yield a longer-term trade truce between the world's two largest economies.

Chinese shipments to the U.S. tumbled 35% from a year earlier in May, government figures released Monday showed. It was the biggest percentage drop since February 2020, when the Covid-19 pandemic was just starting to disrupt global trade.

The fresh data didn't appear to faze the market ahead of today's trade talks. Hong Kong's Hang Seng Index ended the session 1.6% higher, and futures tracking the S&P 500 were pretty much unchanged.