Asian Stocks On Dip After BOJ Fail To Curb Strength In Yen
Stocks dropped 3 % on Tuesday, levelling the two days of gains after the Bank of Japan’s emergency move at Monday failed to curb strength in the yen
Adding to it worries about the U.S. economy spurred broad-based selling. Govt. report showed U.S. incomes increased 0.2 percent in July, less than the 0.3 percent projected by economists.
Investors became more risk averse after U.S. government data showed personal income growth last month failed to keep up with the biggest increase in consumer spending since March.
Board Room, NY Stock Market, Wall Street. 1936 by Bourke-White
Double Dip Recession
While Reserve Bank of Australia (RBA) thinks that world is going to see another double dip recession.RBA deputy governor Guy Debelle says “I think its a risk, but its a somewhat unquantifiable risk,” he told analysts on Tuesday that it was hard to factor in risk and uncertainty when the central bank makes its policy decisions.