Stocks slide, oil holds gains on Middle East, economy concerns

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Asian stocks sank Thursday, tracking a retreat on Wall Street fuelled by a surge in US Treasuries and worries over a possible escalation of the Middle East crisis, which also helped oil hold the previous day's rally.

titans added to the sense of gloom among investors, while the burst of optimism that greeted China's massive spending pledge this week began to fade.

Data later in the day is expected to show US gross domestic product expanded heartily in the third quarter but there is a worry that with borrowing costs at two-decade highs and oil elevated, a contraction could come in the new year.Have you recorded a funny video or filmed the moment of fame, cool dance, or something bizarre? Inbox your personal video on our

The Fed's next meeting at the end of the month will be keenly followed by investors, hoping for some guidance on rates going into 2024. Hong Kong and Shanghai were back in negative territory as Wednesday's rally -- fuelled by China's move to pump more than $100 billion into infrastructure spending -- petered out.

 

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