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March 16, 2020, 11:48 p.m. EDT

Asian markets mixed following Wall Street’s latest dive, recession warning

Stocks rise in Sydney, Hong Kong, but fall in Tokyo, Seoul

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By Associated Press


Getty Images/iStockphoto
Stocks fell Tuesday in Seoul.

Shares were mixed in Asian markets on Tuesday after the U.S. stock market plunged to its worst day in more than three decades.

Monday’s 12% drop for the S&P 500 came as voices from Wall Street to the White House said the coronavirus may be dragging the economy into a recession.

After yet another day of steep losses in Asia and meltdowns in other regions, Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -1.63%   gained 2.9% while Hong Kong’s Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -0.74%   rose 0.8%. Tokyo’s Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK -0.18%   lost 0.5% and South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.05%    declined 1.8%. The Shanghai Composite index /zigman2/quotes/210598127/delayed CN:SHCOMP +0.22%   was flat while the smaller-cap Shenzhen Composite rose 0.2%. Benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.02%  , Singapore /zigman2/quotes/210597985/delayed SG:STI -0.18%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.79%   fell.

Also see: New Zealand announces massive economic stimulus plan

On Monday, the U.S. stock market plunged to its worst day in more than three decades as voices from Wall Street to the White House said the coronavirus may be dragging the economy into a recession.

Monday’s 12% drop for the S&P 500 means it has plummeted nearly 30% since setting a record less than a month ago, and it’s at its lowest point since the end of 2018. Losses were steep Monday, accelerating in the last half hour of trading after President Donald Trump said the economy may be headed for a recession and asked Americans to avoid gatherings of more than 10 people.

The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.58%   plunged 2,997 points, or 12.9%, and, likewise, the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.21%   had its worst loss since the Black Monday crash of 1987. It surpassed Thursday’s loss of 10% for the Dow.

/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,755.70
-95.40 -1.63%
Volume: 2.45M
May 29, 2020 5:16p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
22,961.47
-171.29 -0.74%
Volume: 3.62M
May 29, 2020 4:08p
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/zigman2/quotes/210597971/delayed
JP : Nikkei
21,877.89
-38.42 -0.18%
Volume: 0.00
May 29, 2020 3:00p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,029.60
+1.06 +0.05%
Volume: 1.09M
May 29, 2020 3:33p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,852.35
+6.13 +0.22%
Volume: 20.68B
May 29, 2020 3:01p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
10,942.16
-2.03 -0.02%
Volume: 0.00
May 29, 2020 1:33p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,510.75
-4.49 -0.18%
Volume: 0.00
May 29, 2020 5:20p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
4,753.61
+37.43 +0.79%
Volume: 0.00
May 29, 2020 3:00p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
25,400.64
-147.63 -0.58%
Volume: 378.40M
May 28, 2020 5:13p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,029.73
-6.40 -0.21%
Volume: 3.14B
May 28, 2020 5:13p
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