Stock market today: Asian markets mostly fall after Wall Street logs 3rd loss in a row

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Shares are mostly lower in Asia after a third straight day of losses on Wall Street. Oil prices gained almost $1 and U.S. futures were mixed. Japan's benchmark Nikkei 225 shed early gains as purchasing manager indexes showed worsening conditions in Japan for both manufacturing and services. On Wednesday, the S&P 500 sank 0.

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Chinese markets also fell, with Hong Kong’s Hang Seng losing 1% to 20,555.04 while the Shanghai Composite index shed 0.5% to 3,286.17. Stocks are sagging under rising pressure from Treasury yields. Higher yields can make investors reluctant to pay high prices for stocks, which critics say already look too expensive after they rose faster than corporate profits.

The yield on the 10-year Treasury rose again to 4.23% from 4.21% late Tuesday and from just 4.08% Friday.that’s affected at least 49 people in 10 states. Investigators are still trying to find what specific ingredient is contaminated, and the Centers for Disease Control and Prevention saidThe company reported a loss of more than $6 billion for the latest quarter.

 

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