Wall Street

Stocks drift, oil slumps on recession fears

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Reuters UK

By Anshuman Daga SINGAPORE (Reuters) – Asian markets struggled for direction on Tuesday, weighed by worries over global growth following weak China data that knocked oil prices and commodity-linked currencies. The dollar held near a one-week high as investors piled back into the safe-haven currency, while the Aussie, euro and Chinese yuan buckled. MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.2%, recovering from Monday’s losses. MSCI’s benchmark index has gained 5% from the year’s lows but is still down 15% so far this year. Just as investors were taking heart from a f…

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