Global Markets React to Economic Warnings and China's Trade Data

US stocks were mixed during midday trading on Wednesday as concerns about global growth were stoked by an unexpected interest rate hike from Canada, a surprise drop in Chinese exports, and economic headwinds flagged by the OECD. The S&P 500 slipped 0.29%, while the Dow Jones Industrial Average gained 0.18%, and the Nasdaq Composite fell 0.94%. The Bank of Canada hiked its key interest rate 25 basis points, while China’s exports slumped 7.5% from a year ago in May. The OECD lifted its global 2023 growth forecast slightly to 2.7% but identified potential drags on future recovery, as inflation persists and interest-rate hikes weigh.