As the financial crisis in Europe is worsening, the condition of the Asian economy is also very fearful. As per the records since the financial crisis of 2008, this year the Wall Street also shows the biggest one day point decline in the Asia. The losses are observed in the oil prices in Asia. The price is seen to be eighty six dollars per barrel. The Asian economy is fearful of the challenging demand of the crude. The average stock of the Japan, China and Hong Kong has observed eminent losses. The rate of the Dollar has also fallen down to almost Seventy six dollars this Monday. It must be remembered that this much fall in the Dollar rate was observed when the Tsunami and the earthquake was hit on the eleventh of March. There is no agreement towards the settlement of the debt in Europe. People are looking forward for any move from the US federal reserves. Other than these nations, in Asia, South Korea, Taiwan and Australia have also observed a rapid downfall in their stock prices. This is a tough time for the investors as far as the US debt limit and the European debt crisis is concerned.
Asian market under fears of recession,
Asian stocks sink,
financial crisis in Asia,
world in recession
Business,
Economy
