Continued worry that the beleaguered U.S. economy will slow global growth caused Asian stocks to fall sharply. Shanghai took the biggest hit, dropping 7.2%, as winter storms threatened to exacerbate national energy shortages and accelerate already-high inflation.
In Tokyo, Hong Kong, Singapore and Seoul, the decline in share prices ranged from 3.8% to 4.3%.
In China, weather woes gave investors another concern on top of a global slowdown. Heavy snows, which are disrupting transportation at a peak travel time, depressed share prices of airlines, insurance companies and energy-intensive industries. The latest jolt pushed the benchmark Shanghai Composite Index firmly into ...
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