People walk past the New York Stock Exchange Wednesday, April 3, 2024 in New York. Healthcare business Solventum started trading at the NYSE on Wednesday. – Global shares mostly declined Wednesday after Wall Street broke its record-breaking bull run with its worst day in weeks.
Analysts said worries were growing that anxieties that rattled Wall Street might spread to Asia, despite recent relatively positive economic signs from China. China has set an ambitious target of around 5% economic growth this year, seeking to move past recent troubles in the property sector and the lingering effects of pandemic-era disruptions.
“China is an important market for Japanese manufacturers of factory automation and other industrial equipment, automotive parts, and elevator and escalator systems. A decline in Chinese demand would weigh on the companies’ overall earnings and cash flow,” it said.
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