Asian markets sank Thursday after the Dow suffered its worst day of the year as fears of a global recession mounted with investors fleeing equities.[HONG KONG] Asian markets sank Thursday after the Dow suffered its worst day of the year as fears of a global recession mounted with investors fleeing equities.
"The Japanese stock market is sliding against the backdrop of sharp falls in US shares," Okasan Online Securities said in a note."Worries over the US economic recession grew, while negative economic data for China and Germany also prompted investors to downgrade their views on the global economy," Mizuho Securities added.
The trade war has hammered global demand, with Chinese industrial output hitting a 17-year low while investment and retail sales have also slowed in the world's number two economy. The release of German data showing that the Europe's largest economy contracted in the second quarter did not help matters, with Frankfurt slumping Wednesday to its lowest level since March.
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