Asia Stocks in Bad Shape after Wall Street Continues on a 4-Day Losing Streak

Asia stocks are in a bad shape on March 8 after Wall Street continues on a 4-Day losing streak as ECB cut economic growth for 2019 from 1.7% to 1.1%

08/03/2019

Stock markets in Asia had a rough start again on March 8, 2019, and by the look of it, today is the most worrisome in this week. At 8:55 in Thailand, Nikkei slumped 1.42%, SSEC plunged 2.48%, HSI slipped 1.49%, ASX 200 sank 0.85% and Kospi fell 0.95%.

The market fell in unison after Wall Street posted a four-day losing streak overnight. Dow Jones decreased 0.78%, S&P 500 skidded 0.81%, and Nasdaq fell 1.13%. Meanwhile, VIX rose by 5.40%.

European stocks fell on Thursday after the European Central Bank (ECB) cut its economic growth for 2019 from the forecast made in December at 1.7% to 1.1%, and announced a new round of stimulus to help banks in the region, stoking worries over the global economy.

U.S. stocks also closed lower on Thursday, as investors digested the report from Europe and weighed mixed U.S. economic data which gave anxiety over a worsening global economy.