Asian stocks and commodities dropped a third day, while regional bond risk jumped to a two-year high, on concern Europe’s debt crisis will worsen. The euro touched the lowest level in more than a decade against the yen.
The MSCI Asia Pacific Index sank 2.1 percent at 2 p.m. in Tokyo, set for its lowest close since July 2009. Standard & Poor’s 500 futures added 0.2 percent after a two-day drop that left the U.S. gauge within 1 percent of levels commonly seen as a bear market. S&P’s GSCI Index of raw materials retreated 0.7 percent, paced by oil and copper. The euro was at 101.24 yen after earlier slumping to 100.76, the weakest since June 2001.
Goldman Sachs Group Inc. cut its global growth forecasts and predicted recessions in Germany and France. European finance ministers meeting yesterday considered “technical revisions” to a July deal for a second Greek bailout, fueling concern bondholders may have to take bigger losses on the nation’s debt. Exporters led losses in Asia after automakers reported weaker- than-forecast North American sales and before data today forecast to show U.S. factory orders stalled….
http://www.bloomberg.com/news/2011-10-04/asia-stocks-oil-drop-on-europe-crisis-concerns-aussie-falls-to-year-low.html
No comments:
Post a Comment