What hit the markets today?
"...China’s central bank unexpectedly announced it is lowering interest rates and adding liquidity to China’s financial system after some dour economic data reported for the world’s second-largest economy. Chinese data on factory output, investment, consumer spending and real estate all weakened in July. The dour China news added to fears of a global economic recession. Covid restrictions and a troubled property market have helped to hobble China’s economy in recent months. Other raw commodity prices on Monday also took a hit on the China news, led by a big drop in crude oil prices."
https://www.kitco.com/news/2022-08-15/Price-declines-in-gold-silver-after-downbeat-China-data.html