HONG KONG: Asian markets struggled again on Friday following another selloff on Wall Street fueled by recession fears, with warnings of a bleak outlook for the global economy as central banks slam on the brakes to battle soaring inflation.
Data showing US consumers — the backbone of the world's top economy — were growing increasingly reticent about spending dealt a fresh blow to equities on Thursday, with the S&P 500 suffering its worst January-June since 1970.
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