Wall Street selloff makes Asian markets sprawl

Wall Street selloff makes Asian markets sprawl

On Thursday, Asian equity markets mostly declined, extending a selloff in America overnight because doubts soared that the Trump administration would be capable of delivering on its policy objectives due to mounting political issues.

The latest political developments have already put The Trump administration on the defensive and market participants around the globe are more worried as for his ability to push through previous proposals on tax cuts, infrastructure spending and also deregulation.

Worries among global traders worsen on Tuesday exactly when reports arose that Trump urged James Comey, who he subsequently sacked as the head of the FBI, to back off the investigation of ex-national security adviser Michael Flynn.

The news that ex-FBI Director Robert Mueller is about to act as special counsel to oversee a federal investigation into hypothetical Russian interference in the US election didn’t manage to relive market jitters.

Japan’s Nikkei Stock Average NIK slumped 1.4%.

The Shanghai Composite Index SHCOMP along with Shenzhen Composite Index 399106 both decreased 0.3%, and Hong Kong’s Hang Seng Index HIS lost 0.2%.

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