Stocks rally sputters as growth fears resurface

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Reuters UK

By Tom Westbrook SINGAPORE (Reuters) – Asia’s stockmarkets wobbled lower on Wednesday as reality bit on hopes for a soft economic landing in the United States, and investors curbed their enthusiasm about China’s reopening. The S&P 500 had dropped for a fourth straight session overnight and the brakes have come on a rally that has lasted almost two months. Oil also fell sharply and, with Brent futures at $79.50 a barrel, is back where it began the year. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.4% and Japan’s Nikkei fell 0.5%. “Some of the optimism that had driven the ra…

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