Business Maverick: Stocks in Asia come off highs on growth worries: markets wrap

MSCI’s Asia-Pacific share index rose less than 0.5%, spanning a climb in Japan and a drop in China. S&P 500 and Nasdaq 100 futures fluctuated while European contracts edged higher.

Oil stabilised but was still in sight of a more than six-month low, underlining some of those concerns over the economic growth outlook. Treasury yields and the dollar were steady, while gold and Bitcoin wavered. The revival in stocks from bear-market lows is in part a contentious bet that inflation and central bank hawkishness are peaking, making a recession less likely. The latest Federal Reserve minutes on Wednesday will shed more light on whether those wagers are right.

The latest US data were patchy. Home construction fell more than expected, while factory output increased in July for the first time in three months.

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