THE NEW YORK TIMES: The losses in China, Japan and Australia followed weakness in the United States, where stocks closed in bear market territory.
The sell-off in stocks continued across the Asia-Pacific region on Tuesday as fears mounted of a recession in the United States and a slowdown in the global economy.
Japan’s Nikkei index fell 1.7 percent in afternoon trading, while China’s Shanghai Composite Index was off 0.5 percent. In Australia, the key stock index tumbled about 4 percent, to its lowest levels in two years.
The market declines followed weakness in the United States, where stocks lost 3.9 percent on Monday to close in bear market territory. After reaching a record high in January, the S&P 500 has fallen more than 20 percent, the seventh bear market in the last 50 years. » | Daisuke Wakabayashi | Tuesday, June 14, 2022
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