Stocks in Asia were set to see opening declines on Friday on the back of an overnight slide in shares stateside, as investors grappled with fresh concerns over the state of the global economy.
Meanwhile, the ASX 200 in Australia fell around 0.5 percent in early trade, with almost all sectors seeing declines. The heavily weighted financial subindex shed approximately 0.8 percent as bank shares slipped.Overnight on Wall Street, the Dow Jones Industrial Average dropped 200.23 points to close at 25,473.23 and the S&P 500 declined 0.8 percent to finish its trading day at 2,748.93. The Nasdaq Composite fell 1.1 percent to close at 7,421.46.
ECB President Mario Draghi said the central bank cut its growth estimate to 1.1 percent, down from a 1.7 percent expansion forecast released in December.
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Uh oh. Stock market crash of 2020 here we come?
Isn't it cold and rainy somewhere? That's probably it.
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