China's exports tumbled the most in three years in February while imports fell for a third straight month, pointing to a further slowdown in the economy despite a spate of support measures.While seasonal factors may have been at play, the shockingly weak readings from the world's largest trading nation added to worries about a global slowdown, a day after the European Central Bank slashed growth forecasts for the region.
Asian stock markets and U.S. futures extended early losses after the data. Chinese stocks sank over 3 percent.
Global investors and China's major trading partners are closely watching Beijing's policy reactions as economic growth cools from last year's 28-year low.
February exports fell 20.7 percent from a year earlier, the largest decline since February 2016, customs data showed. Economists polled by Reuters had expected a 4.8 percent drop after January's unexpected 9.1 percent jump.