Asia markets set to slip after IMF slashes 2019 growth outlook again

Stocks in Asia were set to slip at the open on Wednesday amid fresh concerns over the outlook for the global economy.

div > div.group > p:first-child"> SPI futures indicated a lower open for the ASX 200 in Australia, with the futures contract at 6,185.0 as compared to the index's last close at 6,221.80.

Overnight on Wall Street, the Dow Jones Industrial Average saw a second straight day of losses, dropping 190.44 points to close at 26,150.58. The S&P 500 also declined 0.6 percent to finish its trading day at 2,878.20, while the Nasdaq Composite fell more than 0.5 percent to close at 7,909.28. "Higher trade policy uncertainty and concerns of escalation and retaliation would reduce business investment, disrupt supply chains, and slow productivity growth," said the IMF."The resulting depressed outlook for corporate profitability could dent financial market sentiment and further dampen growth."

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