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Asian shares slide, following Wall Street selloff on virus fears
Shares fell Monday in Asia, tracking losses on Wall Street as rising virus cases cause some US states to backtrack on pandemic reopenings.
US economic slide is likely bottoming out, but a recovery could take years
The US economy’s steep slide appears to be leveling off amid signs that layoffs are easing, travel is modestly picking up, and Americans are beginning to eat out again, but a recovery from the coronavirus pandemic is still a long way off, with economic activity at deeply depressed levels.
Three of Arab world’s top economies slide
Business conditions in the Arab world’s three largest economies deteriorated as shutdowns from the coronavirus and a plunge in oil prices took a toll on businesses.
Stocks in China slide
Chinese shares tumbled as traders returned from an extended holiday amid the worsening coronavirus outbreak. Support measures from China’s government helped stem losses in other markets — US futures rose and European contracts ticked higher — while Treasuries slipped.
South Korean export slide suggests no relaxation on world trade yet
South Korea’s exports, a closely watched bellwether for world trade, fell more than expected in November, dealing a blow to nascent optimism that a prolonged slump in global demand may be bottoming out.
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