Market Report - Asia Shares Tumble
- 14 years ago
In today’s market report… Asian stocks fell to near five-month lows as investors dumped riskier assets and poor jobs data sent U.S. and European stocks tumbling.
Markets were further unnerved about U.S. non-farm payrolls data out later today, a number closely watched for signs of improvement in America's jobless rate.
Japan's Nikkei average dropped more than 3 percent to its lowest in seven weeks, with exporters hurt by a stronger yen as well as the escalating problems in Europe.
The yen, like the dollar, has firmed as investors move into assets traditionally seen as safe havens in times of market turmoil.
But, shares in Toyota climbed, even as the world’s No1. carmaker prepares to recall its iconic Prius hybrid car to address more than 100 complaints about braking.
Toyota's stock picked up from 10-month lows after it reported better-than-expected quarterly earnings and raised its outlook despite its growing recall-related problems.
Markets were further unnerved about U.S. non-farm payrolls data out later today, a number closely watched for signs of improvement in America's jobless rate.
Japan's Nikkei average dropped more than 3 percent to its lowest in seven weeks, with exporters hurt by a stronger yen as well as the escalating problems in Europe.
The yen, like the dollar, has firmed as investors move into assets traditionally seen as safe havens in times of market turmoil.
But, shares in Toyota climbed, even as the world’s No1. carmaker prepares to recall its iconic Prius hybrid car to address more than 100 complaints about braking.
Toyota's stock picked up from 10-month lows after it reported better-than-expected quarterly earnings and raised its outlook despite its growing recall-related problems.