London CNN Business  — 

1. Tencent’s gaming win: Tencent can finally make money off new video games again.

That was the fewest jobs gained in a month since September 2017. The unemployment rate fell to 3.8% as fewer unemployed people were looking for work.

The Labor Department suggested that furloughed workers from the government shutdown returning to work also contributed to the the lower unemployment rate.

2. China exports slump: Chinese stocks fell sharply after government data showed the country’s huge export industry suffered its worst month in three years.

Exports plunged 21% in February from a year earlier, a slump that economists attributed to weaker global demand for Chinese goods and the country’s trade war with the United States.

The data was far worse than economists had predicted. The Shanghai Composite plunged 4.4% while the tech-heavy Shenzhen Composite dropped 3.8%.

The value of goods shipped to the United States fell much more sharply than for other major markets.

“This suggests that US tariffs have become a more meaningful drag on exports,” said Julian Evans-Pritchard, senior China economist at Capital Economics.

Another worrying piece of news came from the US ambassador to China, Terry Branstad, who told the Wall Street Journal that a date has not yet been set to resolve the trade dispute.

“Both sides agree that there has to be significant progress, meaning a feeling that they’re very close before that happens,” Branstad told the newspaper. “We’re not there yet. But we’re closer than we’ve been for a very long time.”

5. Global market overview: US stock futures were pointing lower.

European markets opened mostly higher, following a positive trading session in Asia.

The Dow Jones industrial average closed 1.3% higher on Monday, the index’s highest close since October. The S&P 500 added 1.2% and the Nasdaq gained 1.3%.

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5. Earnings and economics: Colgate-Palmolive (CL) is set to release earnings before the open Friday.

Deutsche Bank declined to comment. Commerzbank did not respond to questions from CNN Business.

German factory orders dropped 2.6% in January compared to the previous month, the latest evidence of a major slowdown in eurozone’s biggest economy.

“German manufacturing is going through a recession,” said Florian Hense, an economist at Berenberg. “It will take some easing of trade tensions, better news out of China and an end to the hard Brexit risk to stop the downturn,” he added.

6. Coming this week: