Asian Shares Slide As Bank Fears Add To Global Gloom
Asian shares slid on Friday as mounting concerns about the health of European banks further threatened a global economic outlook already under strain from falling oil prices and slowdown in China and other emerging markets.
The prices of yen, gold and liquid government bonds of favored countries soared as investors rushed to traditional safe-haven assets.
"The markets are clearly starting to price-in a sharp slowdown in the world economy and even a recession in the United States," said Tsuyoshi Shimizu, chief strategist at Mizuho Asset Management.