Shares were weaker in Asia on Friday, tracking a decline on Wall Street following mixed earnings reports from big companies and more signals the U.S. economy...
Shares were weaker in Asia on Friday, tracking a decline on Wall Street following mixed earnings reports from big companies and more signals the U.S. economy may be slowing.
Tokyo’s Nikkei 225 index NIK edged down 0.1%. The Kospi 180721 in Seoul dropped 0.8% and Hong Kong’s Hang Seng HSI gave up 0.7%.On Thursday, the S&P 500 SPX fell 0.6% to 4,129.79 after drifting listlessly earlier this week. The Dow Jones Industrial Average DJIA slipped 0.3% to 33,786.62, while the Nasdaq composite COMP dropped 0.8% to 12,059.56.
The Fed has intentionally been trying to cool the economy by raising interest rates in hopes of reining in high inflation. It’s an effective but blunt tool that slows the broad economy, raising the risk of a recession and hurting prices for investments.
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