Asian stocks fall following volatile day on Wall Street | MENAFN.COM

Saturday, 10 December 2022 03:08 GMT

Asian stocks fall following volatile day on Wall Street


(MENAFN) Asian stocks have plummeted following mixed results on Wall Street, as markets fret about the possibility of a recession.

On Wednesday, the Nikkei 225 index in Tokyo down 2.2 percent to 25,984.51, while the Kospi in Seoul fell 2.8 percent to 2,161.86. The S&P/ASX 200 index declined 0.8 percent to 6,443.30 in Sydney.

The Hang Seng index in Hong Kong fell 2.1 percent to 17,483.89, while the Shanghai Composite index fell 0.8 percent to 3,068.59. The Taiwanese benchmark fell 2.1 percent.

The week began with a massive sell-off that sent the Dow Jones Industrial Average into a bear market — or more than 20% below its January peak — and pushed other major US indices into bear territory.

The S&P 500 fell 0.2 percent to 3,647.29 on Tuesday, its sixth straight drop. The Dow dipped 0.4 percent to 29,134.99, while the Nasdaq composite gained 0.2 percent to 10,829.50.

Small-cap equities fared better than the larger market. The Russell 2000 rose 0.4 percent to 1,662.51.

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