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Asian Stocks Slide on Gloomy US News

 Phil Amato     Created: 10/29/2009 7:30:57 AM    Updated: 10/29/2009 7:31:49 AM
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BEIJING (AP) -- Asian stock markets have fallen for a third day after a Wall Street sell-off on signs of weakness in the U.S. housing market triggered fears about the health of the global recovery.

Tokyo, Hong Kong, Shanghai and Seoul have all been down about 2 percent or more.

An analyst says that investor nervousness increased after Norway's decision yesterday to become the first European country to raise interest rates since the financial crisis began. He says that's prompting worries that governments might be withdrawing stimulus measures before private sector activity has fully recovered.

 

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