Asia stocks shudder as ECB reversal spooks markets

SYDNEY: Asian stocks shuddered lower on Friday after the European Central Bank slashed its growth forecasts and launched an emergency round of policy stimulus, leaving investors fearing the worst for the global economy.



ECB President Mario Draghi said the economy was in "a period of continued weakness and pervasive uncertainty" as he pushed out a planned rate hike and instead offered banks a new round of cheap loans. [

The reversal came in the same week that Canada's central  ..

In Asia, Japan's Nikkei led the way with a drop of 0.9 per cent, while Australian stocks lost 0.5 per cent.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.3 per cent, having already shed 0.9 per cent the day before.

E-Mini futures for the S&P 500 dithered either side of flat after a weak close for Wall Street.

The Dow fell 0.78 per cent, while the S&P 500 lost 0.81 per cent and the Nasdaq 1.13 per cent. The closely watched Dow Jones Tran .. 

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