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Asian Stocks Retreat as Oil, Aussie Slide

Posted by Forexsq 423 days ago (http://www.bloomberg.com)

European stocks fell for a second day, commodities slid and the yen gained after France’s economy grew less than expected and Federal Reserve Chairman Ben S. Bernanke said U.S. unemployment remains too high. Chinese stocks sank the most in four months on concern earnings will worsen.

The Stoxx Europe 600 Index lost 0.3 percent as of 8:02 a.m. in London, while the MSCI Asia Pacific Index declined 0.4 percent. The Shanghai Composite Index tumbled 2.7 percent. Standard & Poor’s 500 Index futures were little changed and the yen rose 0.5 percent to 82.72 per dollar. The S&P GSCI Index of commodities fell 0.5 percent, led by natural gas and copper.