World Markets Mostly Lower Monday

NEW YORK (TheStreet) -- World stock markets mostly drifted lower Monday as concerns about the strength of the global economic recovery appeared to weigh on trading.

Global stocks as measured by the MSCI All-Country World Index were down 0.2% Monday, according to Reuters.

Observers had expected a light session Monday because the U.S. stock market was closed in observance of the 4th of July holiday.

On Friday, the U.S. government reported that nonfarm payrolls fell by a worse-than-expected 125,000.

Adding to the jitters about the global recovery, data from China indicate growth there could slow. And on Sunday, Chinese Premier Wen Jiabao said his country's economy faces threats as the world economic recovery appears to be losing steam.

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On Monday, European bourses did receive a bit of good news in the form of a report showing that eurozone retail sales increased 0.2% in May. Still, Europe's FTSEurofirst 300 lost 0.1%.

Elsewhere, Japan's Nikkei average managed a gain, rising 0.7%.

China's Shanghai Composite index lost 0.8%, falling to its lowest level in 15 months, while in Latin America, Brazil's Bovespa index fell 0.2%.

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