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Asia stocks follow Wall St tumble on valuation worries

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Asian stocks skidded on Thursday following a sharp Wall Street decline amid deepening concerns about stretched valuations in equities markets, ...

NEW YORK: Asian stocks skidded on Thursday following a sharp Wall Street decline amid deepening concerns about stretched valuations in equities markets, while the dollar and bonds strengthened.

Boeing Co dragged on the Dow by falling 3.97per cent on a US$6.5 billion charge for its delayed 777X jetliner and crash-plagued 737 MAX. Facebook shares edged up 0.68per cent while Tesla fell 2.10per cent after the close. Apple shares also dipped in extended trade after its results. "The focus is firmly on the fiscal side of the equation now," Rick Rieder, BlackRock's chief investment officer of global fixed income, said in a note.

 

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