Asian stocks slide as trade fears mount [CNN]
SUN HUNG KAI PY LTD S/ADR (SUHJY)
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Source: CNN
Asian stocks slide as fears grow about trade and the global economy Major markets in Asia were down Thursday as investors continued to digest some poor manufacturing data out of the United States, along with the country's newly announced plans to impose tariffs on $7.5 billion worth of European exports as soon as October 18. Japan's Nikkei ( N225 ) and Australia's S&P/ASX 200 dropped 2% and 1.9%, respectively, in early trading. "The pain will be felt across Asia today," wrote Jeffrey Halley, senior market analyst for Asia Pacific at Oanda, in a research note. Asian markets now have to deal with the damaging effects of several trade disputes, said Stephen Innes, a market strategist for Asia Pacific at Axi Trader. Spats between the United States and China, South Korea and Japan, and the United States and the European Union are all creating causes for concern. "With the global economic data continuing to deteriorate this new trade war front will stoke the recessionary fears to no end,
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