Asian stocks tumbled, extending a global selloff that wiped at least $1.5 trillion from the value of global equities, on concern U.S. growth will stall.
By Stuart Kelly and Makiko SuzukiMarch 5 (Bloomberg) -- Asian stocks tumbled, extending a global selloff that wiped at least $1.5 trillion from the value of global equities, on concern U.S. growth will stall.
Toyota Motor Corp., the world's second-largest carmaker, and BHP Billiton, the biggest mining company, slid after consumer confidence declined in the United States, Asia's biggest export market.
``Investors may remain bearish all week as expectations over solid U.S. consumption have dropped,'' said Masaaki Endo, who helps oversee $10 billion at Norinchukin Zenkyoren Asset Management Co. in Tokyo. ``The global plunge made people sensitive to risk.''
The Morgan Stanley Capital International Asia-Pacific Index slid 1.9 percent to 140.04 at 12:47 p.m. in Tokyo, set for its lowest close since Jan. 16. It fell 3.5 percent last week, the most since July. All markets open for trading fell.
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