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Stocks are weakening on growing concerns about economic growth



Asian stocks dropped a fourth day on Thursday as weaker US manufacturing and hiring data unsettled the global economy.

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The Tokyo Nikkei 225 fell unusually high by 2% and market benchmarks in Hong Kong, Sydney and Southeast Asia also declined. The Chinese and Korean markets were closed due to public holidays.

The Wall Street benchmark Standard & Poor's 500 lost 1

.8% on Wednesday after a survey by subcontractor ADP in September found a weakening in attitudes. Investors saw the report as "further evidence that the US economy is slowing and possibly close to recession," said AxiTrader's Stephen Innes in a report The Nikkei 225 fell to 21,337.94 and Hong Kong's Hang Seng lost 0 , 7% to 25,871.73. Sydney's S & P ASX 200 fell 2.1% to 6,502.70. The markets in New Zealand, Taiwan and Southeast Asia also declined.

Adding to the uncertainties was a decision by the World Trade Organization that the United States had to impose tariffs on European goods worth up to $ 7.5 billion to compensate for the illegal subsidies to the aircraft manufacturer Airbus

The Trump Administration said tariffs would start on October 18th.

A separate WTO ruling found that Airbus rival Boeing Co. had received similar inappropriate assistance from Washington. The EU is expected to decide next year on possible tariffs that Europe can impose in response.

Markets were already curious as to whether the collective bargaining waged by President Donald Trump with Beijing, which weighed on global trade, could affect the global economy.

US and Chinese negotiators meet for a 13th round of talks this month to end the struggle over Beijing's trade surplus and technology policies. The two sides have taken conciliatory steps, including the postponement or abolition of some punitive tariffs, but there was no sign of progress in resolving the core issues of the dispute. Markets assume a 75% likelihood that the Fed will cut short-term interest rates on 29%. and October 30 by half a percentage point will lower meetings. The Fed has not cut interest rates many times since the 2008 financial crisis.

ENERGY: Benchmark US crude oil rose 13 cents to $ 52.77 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 98 cents on Wednesday to close at $ 52.64. Brent crude oil, used at the price of international oil, lost 6 cents in London to $ 57.63 a barrel. The last session dropped $ 1.20 to $ 57.69.

CURRENCY: The US dollar fell from $ 107.19 to $ 107.14 on Wednesday. The euro was unchanged at 1.0961 USD.


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