Asian markets slide for third day in a row on global recession fears

Asian stocks fell for a third straight day Friday after more rate hikes by the Federal Reserve and other central banks to control persistent inflation...

BEIJING — Asian stocks fell for a third straight day Friday after more rate hikes by the Federal Reserve and other central banks to control persistent inflation spurred fears of a possible global recession.

The Shanghai Composite Index SHCOMP dropped 0.9% and Hong Kong’s Hang Seng HSI lost 0.7%. The Kospi 180721 in Seoul tumbled 1.5%. The S&P 500 SPX lost 0.8% to 3,757.99. The Dow Jones Industrial Average DJIA fell 0.4% to 30,076.68 and the Nasdaq composite COMP slid 1.4% to 11,066.81.

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