World markets slide

Posted Aug 19, 2011 05:18:02 AM.

This article is more than 5 years old.

Asian stock markets were sharply lower today amid signs of a possible U-S recession and renewed worries over the health of Europe’s banks.

Oil prices also fell to near $81 U.S. a barrel in electronic trading this morning in Asia, extending a major sell-off fuelled by investor fears that slowing global growth will undermine demand for crude.

Markets in Japan lost 2.5 per cent, while Hong Kong’s closed three per cent lower on the heels of yesterday’s 400-point slide in New York and Toronto.

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