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Asian stocks slide after weak US data add to global gloom
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BEIJING – Asian stocks were mostly lower Thursday after unexpectedly weak U.S. retail and other data added to gloom about the impact of the coronavirus pandemic.
Benchmarks in Tokyo and Hong Kong declined while Shanghai gained. On Wall Street, the benchmark S&P 500 index sank 2.2% after the U.S.
government reported last month's retail sales plunged by a record 8.7% and factory output fell at the fastest rate for March since 1946.
The retail figures hit especially hard because consumer spending makes up two-thirds of the U.S. economy. The announcements shook investors who economists have warned are too optimistic about a quick rebound from what is shaping up to be the deepest global slump since the Great Depression of the 1930s. “Boy, were
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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