- Asian equities slumped alongside US share futures, as government bonds rallied against a backdrop of weaker-than-expected economic data, which backed recession fears.
- On Thursday, benchmarks fell in China, Japan, South Korea, and Australia. Futures for US stocks declined after the S&P 500 fell 0.3% on Wednesday, as selling pressure concentrated in vulnerable areas of the market. The Nasdaq 100 fell 1%, undermining a great first quarter in which the tech-heavy index gained 5%.
- Following a one-day delay in trading due to a holiday on Wednesday, Hong Kong and mainland China stocks were mostly lower. In New York, the Golden Dragon index of Chinese stocks listed in the US lost 2.7%.
- Haven assets maintained their strength, with 2-yr and 10-yr Treasuries remaining mostly unchanged and rates remaining near year lows. Government bonds increased in Australia and New Zealand, with rates for Australia's 10-yr maturity falling by roughly 7 bps.
- The dollar index and the yen extended their gains from Wednesday. Gold fell slightly but remained close to a 13-month high set the previous session.
