Asian markets slip on trade, growth worries

The markets in Taiwan and China remain closed on Friday for the Lunar New Year holidays.

Feb 08, 2019 10:02 IST India Infoline News Service

Stocks markets in Asia have take a horrible beating this year and lost as much $6.2trillion.
Asian stock markets were trading weaker amid growing concerns over the trade fight between the US and China. Nikkei 225 Index is losing 1.87%, South Korea and Hong Kong are losing ~1% each, while Singapore, Indonesia and Malaysia are also lower. New Zealand is modestly higher.

The markets in Taiwan and China remain closed on Friday for the Lunar New Year holidays.

Wall Street ended lower on Thursday amid renewed concerns about a US-China trade deal after a media report said that the President Donald Trump and Chinese President Xi Jinping are "highly unlikely" to meet before a March 2 deadline. Worries about the global economy also weighed on the markets after the European Commission lowered its eurozone growth forecast.

The Dow slumped 220.77 points to 25,169, the Nasdaq plunged 86.93 points to 7,288.35 and the S&P 500 tumbled 25.56 points to 2,706.05.

Oil stocks are weak after crude oil prices declined more than 2% overnight.

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