Global stocks slumped to more than two-month lows in early Asian trade on Thursd...
TOKYO - Global stocks slumped to more than two-month lows in early Asian trade on Thursday, tracking the Wall Street slide as an inverted U.S. bond yield curve sent a flashing warning to investors about rising recession risks.
“The yield curves are all crying timber that a recession is almost a reality and investors are tripping over themselves to get out of the way as economic recession hurts corporate earnings and stocks can drop as much as 20%,” said Chris Rupkey, chief financial economist at MUFG Union Bank. Senior U.S. officials said on Wednesday China has made no trade concessions after U.S. President Donald Trump postponed the 10% tariffs on over $150 billion worth of Chinese imports, the latest sign that efforts to reach a trade deal were going nowhere.adding a marginal 0.1% to $1.1144. The Japanese yen strengthened 0.1% versus the greenback at 105.83 per dollar, having firmed 0.8% on Wednesday.
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