Asian stocks falter as global growth fears temper tech boost

📆 7/31/2020 8:15 AM
📰 Reuters

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Asian shares wobbled in a choppy session on Friday as abysmal economic data from the United States and rising global COVID-19 cases weighed on sentiment, despite strong U.S. tech earnings and signs of manufacturing recovery in China and Japan.

FILE PHOTO: A security guard wearing a face mask walks past the Bund Financial Bull statue, following an outbreak of the novel coronavirus disease , on The Bund in Shanghai, China March 18, 2020. REUTERS/Aly Song/File Photo

U.S. GDP collapsed at a 32.9% annualized rate in the second quarter, the deepest decline on record, while jobless claims rose last week, adding to signs the momentum of economic recovery has slowed.

Write Comment

Don't worry. The US Federal Reserve will shower the Asian markets with liquidity too

Yeah, stocks are right at the top of my worry list.

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