2019/03/08

Stock Slide Extends to Asia Amid Growth Worries: Markets Wrap

Stocks in Asia fell amid signs China is trying to slow down the country’s equity rally and after cuts to economic forecasts at the European Central Bank reignited concern on global growth, sending global bond yields lower. The euro remained near the lowest since 2017. Equities from Sydney to Hong Kong retreated, with financials and technology leading losses. Chinese shares bore the brunt of losses as traders took a rare sell rating from the nation’s largest brokerage as a sign that the government wants to curb gains. Earlier, the S&P 500 sank for a fourth day and the gauge closed just below its closely watched 200-day moving mean that has provided support in the past. Australian bonds tracked gains in Treasuries and bunds, while the dollar steadied after gaining for a seventh day. The yen ticked higher. -  Bloomberg



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