Asia stocks pummeled by fresh Wall Street slide, safe havens in demand

[ffr]

Source: Business Insider



Asian stocks tumbled on Friday (Feb 9) after Wall Street shares suffered yet another big slide amid worries over rising bond yields, while perceived havens such as the yen and Swiss franc drew demand amid the turmoil.

Japan’s Nikkei sagged 3 percent, en route for a weekly loss of 8.6 percent.
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The index, which had hit a record high on Jan. 29, was on track for its sixth straight day of losses and stood to lose about 6 percent on the week. Australian shares lost 1.7 percent and South Korea’s KOSPI fell 2.3 percent.

Read more: https://www.businessinsider.sg/asia-stocks-pummeled-by-fresh-wall-street-slide-safe-havens-in-demand/

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Our GOP conservatives are doing wonders for the markets around the globe. How about that fiscal conservatism!

[Matthew28]

1. Deregulation

and rich man butt kissing always ends up causing a cluster fuck in the economy!

Republican policies are bad!

[Hortensis]

2. Yes. And this is happening in MANY nations.

An inevitable consequence of allowing the development of ultra-wealthy classes.

It is absolutely no coincidence that the development of new liberal democracies around the planet in the 1990s was enabled by the quadrupling of planetary wealth over the past quarter century.

It is also no coincidence that the concentration of wealth in new centimillionaire and billionaire classes that followed has lead to attacks on government of, by and for the people around the planet.

We've been here before.

We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can't have both. ~ Louis D. Brandeis in the 1930s, before unbridled greed forced Americans to redeal the economic cards.

[IronLionZion]

3. Tax cuts are making this worse

since Treasury has to sell more bonds to compensate for the loss in revenue, it causes yields to rise and prices to decrease.

Plus wealthy people spend less of their wealth than normal people so it doesn't stimulate economies as much as helping lower income people.