By Tomo Uetake TOKYO (Reuters) – Global stocks slumped to more than two-month lows in early Asian trade on Thursday, tracking the Wall Street slide as an inverted U.S. bond yield curve sent a flashing warning to investors about rising recession risks.Yields on 10-year U.S. Treasury notes <US10YT=RR> fell below the two-year yield <US2YT=RR>, intra-day, for the first time since 2007, in what is known as a yield curve inversion and widely seen by investors as a sign that a recession is coming.Asia shares sank at the open with Japan’s Nikkei average <.N225> tumbling 2.0% and Australian stocks <.AXJO> falling 1.9%. Graphic: Asian stock markets – https://tmsnrt.rs/2zpUAr4The MSCI ACWI <.MIWD00000PUS>, which incorporates readings of 49 equity markets across the world, shed 2.1% to its lowest level since June 4, while E-Mini futures for the S&P 500 <ESc1> lost 0.1% in early Asia. “The yield curves are all crying timber that a recession is almost a reality and investors are tripping over themselves to get out of the way as economic recession hurts corporate earnings and stocks can drop as much as 20%,” said Chris Rupkey, chief financial economist at MUFG Union Bank. MSCI’s broadest index of Asia-Pacific shares outside Japan… Read full this story
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