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Asian markets pull back as hopes fade for U.S. stimulus - MarketWatch

Asian markets pull back as hopes fade for U.S. stimulus - MarketWatch

Asian markets pull back as hopes fade for U.S. stimulus - MarketWatch
Oct 20, 2020 1 min, 0 secs

TOKYO — Asian shares fell moderately Tuesday, echoing Wall Street’s decline as hopes faded Washington will come through with badly needed aid for the economy before the U.S.

“As hope for a pre-election stimulus balloon deflates, and with stocks struggling to float on their own during a subpar earning season, exhaustion set in, and the laws of gravity took over,” said Stephen Innes, chief global market strategist at Axi.

Market players are looking for additional data on China’s recovery, as that could drive the sorely needed growth in the rest of Asia.

Recent data out of Japan show exports to China have been recovering gradually.

On Wall Street, the S&P 500 dropped 1.6%, its worst day in more than three weeks.

Wall Street is expecting lawmakers will agree on new stimulus measures for the economy, but the odds of that happening before Nov.

Even so, trading often has been choppy from one day to the next, reflecting uncertainty over the timing of more stimulus for the economy

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