HONG KONG, Sept 16 — Asian markets were weaker today as investors braced for a US rate hike next week amid growing concerns of a global recession following warnings from the World Bank and the International Monetary Fund.
Hong Kong’s Hang Seng Index was down 1.1 per cent while China’s CSI300 Index was 0.86 per cent lower.The Dow Jones Industrial Average fell 173.27 points, or 0.56 per cent, to 30,961.82, the S&P 500 lost 44.66 points, or 1.13 per cent, to 3,901.35 and the Nasdaq Composite .IXIC dropped 167.32 points, or 1.43 per cent, to 11,552.36.
In comparison, the World Bank said the world could be edging towards a global recession in 2023 as central banks across the world simultaneously hike interest rates to combat persistent inflation.
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