Asian stocks stumble as banking turmoil sends investors to safety

became the latest focal point for fears of a banking crisis, leaving markets on edge ahead of a European Central Bank meeting later in the day.take up an option to borrow as much as 50 billion Swiss francs

But sentiment was fragile and a nervous air hung over markets. MSCI's index of Asia-Pacific shares outside Japan fell to 2023 lows and was down 0.9 per cent mid-morning. Japan's Nikkei dropped 1.3 per cent. Insurers, banks, miners and consumer-exposed stocks led the losses around Asia as worries grow that a potential credit crunch can worsen a looming economic slowdown.

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Asian stocks slide, safety shines as bank fears spreadSINGAPORE: Asian stocks tumbled on Thursday (Mar 16), and investors bought gold, bonds and the US dollar as fear of a banking crisis was reignited by fresh troubles at Credit Suisse
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