A 7 percent stock market sell-off in Tokyo led to moderate declines in equity markets across Europe and Asia on Thursday, and Wall Street opened weakly, amid concerns about global growth and uneasiness about central bank actions.
Shares came under pressure in Asian trading after news that the manufacturing sector in China, one of the main engines of global growth in recent years, was faltering. That, along with concerns about daring shock therapy Japan is employing to restart its economy after two decades of stagnation, further combined with leftover confusion in financial markets about the U.S. Federal Reserve’s intentions following testimony Wednesday by its chairman, helped to further rattle investors.
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Bettina Wassener and David Jolly, New York Times via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/HNvND9NdCR0/
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