LONDON—Global stock markets and commodities took a hit on Jan. 14 after a shock contraction in Chinese trade pointed to deepening cracks in the world’s second-largest economy and sparked fears of a sharper slowdown in global growth.
Data from China showed imports fell 7.6 percent year-on-year in December while analysts had predicted a 5 percent rise. Exports dropped 4.4 percent, confounding expectations for a 3 percent gain.
