Asia stocks slump on recession fears after Dow suffers worst day of year; US bond yields plunge
FirstpostThe intensifying US-China trade war shows no signs of resolution and the flight to bonds signal the growing fears of a global recession Hong Kong: Asian markets sank Thursday after the Dow suffered its worst day of the year as fears of a global recession mounted with investors fleeing equities. The losses followed a dark day on European bourses and on Wall Street, with all three US benchmarks tumbling around three percent and US bond yields plunging as investors deserted stocks for safer Treasury assets. “Worries over the US economic recession grew, while negative economic data for China and Germany also prompted investors to downgrade their views on the global economy,” Mizuho Securities added. Coming on the back of an intensifying US-China trade war that shows no signs of resolution, the flight to bonds signalled the growing fears of a global recession.