Asian markets struggle amid recession fears

By Agence France-Presse

Jul 02, 2022 12:09 am

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.

RECESSION TREPIDATION Aerial photo taken on Thursday, June 30, 2022, shows a China-Europe freight train ready for departure at the Tuanjiecun station in southwest China’s Chongqing Municipality. 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. XINHUA PHOTO

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

Japan must avoid more debt – IMF

China new home prices grew faster in October

Boeing raises contract offer to end strike

Apple almost beats estimates on iPhone sales

China online retailer Temu faces EU probe

BoJ warns of 'high uncertainties' after polls

China's manufacturing activity expands