Asia stocks fall as Biden drops presidential bid; inflation and GDP data in focus this week

Early Monday, U.S. president Joe Biden announced his withdrawal from the 2024 presidential race, endorsing current vice-president Kamala Harris.

Traders return to the markets after machines running Microsoft's Windows operating system crashed Friday due to a glitch in an update issued by cybersecurity company CrowdStrike. Shares of CrowdStrike plunged 11% on Friday. China’s loan prime rate will be releases later in the day, with the one- and five-year LPR expected to be unchanged, according to economists polled by Reuters.📺 Los Angeles news 24/7: Watch NBC4 free wherever you areon Friday.

The one-year LPR acts as the benchmark for most corporate loans, and the five-year LPR serves as a reference rate for mortgages. This week, investors will be looking out for GDP data from South Korea and the U.S., as well as factory activity data from around the region. South Korea and the the U.S will announce second-quarter advance GDP numbers on Thursday.fell 0.5%, while the broad based Topix was down 0.41%. This was the first time in three weeks that the index dipped below the 40,000 mark.On Wall Street, all three major indexes retreated on Friday and U.S.

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Asia stocks set to mostly fall as Biden drops out of race; inflation and GDP data this week in focus“It is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President,” Biden wrote in a…
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