Global shares at one-month low on U.S. manufacturing shock

Fears of a slowdown in U.S. economic growth

Global shares fell to one-month lows on Wednesday after U.S. manufacturing activity tumbled to more than a decade low, sparking worries that the fallout from the U.S.-China trade war is spreading to the U.S. economy. A slowdown in U.S. economic growth would remove one of the few remaining bright spots in the global economy and come just as Europe is seen as close to falling into recession.

MSCI’s gauge of stocks across the globe .MIWD00000PUS, covering 49 markets, dipped 0.06% to a low last seen in early September, after shedding 0.83% in the previous session. In Asia, MSCI’s ex-Japan Asia-Pacific shares index .MIAPJ0000PUS dropped 0.7%, with Australian shares falling 1.3% and South Korean shares shedding 1.4%. Japan’s Nikkei .N225 slid 0.65%. China markets are closed for a one-week holiday.

Hong Kong’s Hang Seng index .HSI fell 0.8% in early trade after a market holiday. On Tuesday, Hong Kong police shot a teenage protester, the first to be hit by live ammunition in almost four months of unrest in the Chinese-ruled city.

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