Asia stocks in gloomy mood as Wall St futures slip – Reuters.com
- Date: 09-May-2022
- Source: Reuters
- Sector:Financial Markets
- Country:Middle East
Asia stocks in gloomy mood as Wall St futures slip – Reuters.com
SYDNEY, May 9 (Reuters) - Asian markets got off to a shaky start on Monday as U.S. stock futures took an early skid on rate worries, while a tightening lockdown in Shanghai stoked concerns about global economic growth and possible recession.
"A series of rate hikes and hawkish communication came against a backdrop of plummeting Chinese and European activity, new plans for Russian energy bans and continued supply-side pressures," warned analysts at Barclays.
"This creates the gloomy prospect of persistent inflation forcing central banks to hike rates despite sharply slowing growth."
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