Stocks wobble on trade, earnings anxiety; US Treasury yields fall

TOKYO: Asian share markets faltered on Thursday as Wall Street stocks dropped on early signs that the U.S.-China trade war could hurt corporate earnings, which helped underpin solid demand for safe-haven U.S. Treasuries.

European stocks are also poised for a decisively lower open, with futures for Britain's FTSE falling 0.4per cent, Germany's DAX down 1.0per cent and France's CAC down 0.5per cent. Netflix Inc shares tumbled in after-market trade after the world's dominant subscription video service lost U.S. streaming customers for the first time in eight years and missed targets for new subscribers overseas, raising worries in an already nervous the market.

In the foreign exchange market, the dollar slipped on Thursday as broader risk aversion pushed benchmark U.S. yields to a nine-day low. Sterling was a shade higher at US$1.244. It had stumbled to US$1.238, its lowest since April 2017 on Wednesday amid growing risks of Britain leaving the European Union in a no-deal Brexit.

Britain's fiscal watchdog is expected to say on Thursday the country's economy will fall into a recession next year and that its economy will be 3per cent smaller in the event of a"no-deal" Brexit, The Times newspaper reported.

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