Subprime Fears Pelt Asia's Markets
So much for the theory that a U.S. slowdown won't hurt Asia. For months, many Asia watchers have predicted that strong demand in China and India would allow the region to "decouple" from the U.S., Asia's traditional engine of growth. For today at least, investors lost faith in that theory. Stock markets across the region plunged Jan. 16, following scary news from the U.S. about huge losses at Citigroup (C), disappointing numbers from Intel (INTC), and surprisingly weak U.S. retail sales figures for December.
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