Asian stocks drifted after a retreat on Wall Street as data showing a softening in the US jobs market pointed to a slowing economy and fuelled fears of a recession.
The drop in US job openings has raised concerns the economy is heading for recession.BEIJING - Asian stocks drifted after a retreat on Wall Street as data showing a softening in the US jobs market pointed to a slowing economy and fuelled fresh fears of a recession.
The rally continued at the start of this week, even after a shock cut in oil output by major producers sent prices soaring and reignited worries over inflation, which has been coming down in the past months. While figures showing a strong labour market have been welcomed as giving the Fed room to stop hiking rates, analysts said the reading was also seen as a warning that the economy was on the slide.
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