Asian stocks slide with oil on recession jitters; dollar drops

TOKYO : Asia stocks continued a decline from Wall Street on Tuesday, and U.S. long-term Treasury yields sank to a four-month low, pulling the U.S. dollar down against the yen and other currencies as investors worried about the risk of global recession.

The Australian and South Korean equity benchmarks suffered losses of about 0.3 per cent each, while Japan's Nikkei tumbled 1.17 per cent.Taiwan's stock index slid 1.68 per cent.U.S. e-mini stock futures pointed to a 0.31 per cent lower restart for the S&P 500, which stumbled 0.28 per cent overnight. "Data releases over the past 24 hours have provided further evidence the global economy is slowing," National Australia Bank strategist Rodrigo Catril wrote in a note to clients.

That helped the U.S. dollar slide as low as 130.595 yen for the first time since June 6. The euro jumped as high as $1.0294, a level not seen since July 5.

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