PARIS – The Latest on action in the financial markets (all times local):
Shares in Asia have fallen, with Japan's benchmark failing to hold onto early gains as investors scrounged for cash amid recession fears.
Tokyo's Nikkei 225 fell 0.2% to 16,691.45 while the Kospi in South Korea sank 5%. Australia's S&P ASX 200 gave up 1.6% and Hong Kong's Hang Seng lost 2.3%. The Shanghai Composite index dropped 0.8%.
Stocks fell in Tokyo, Sydney and Seoul in early trading Thursday. Markets have been skidding as fears of a prolonged coronavirus-induced recession take hold.
The Dow Jones Industrial Average lost more than 1,300 points, or 6.3% on Tuesday. It has now given up nearly all of its gains since President Trump's inauguration.
Wednesday's losses deepened after a temporary halt was triggered in the early afternoon. Even prices for investments seen as very safe, like longer-term U.S. Treasurys, fell as investors rushed to raise cash. The price of oil fell 24%, dropping below $21 per barrel for the first time since 2002.