ASIAN stocks tracked losses on Wall Street on Friday amid fresh credit market fears that compounded worries about trade tensions, a possible tech bubble and the US government shutdown.
After a months-long run-up that has seen some indexes hit multiple records, investors have been sent reeling this week since US President Donald Trump stoked his tariff standoff with China on Friday, sparking tit-for-tat salvos that have broken the calm.
Investors have been nervously watching the US banking sector since parts company First Brands and subprime lender Tricolor filed for bankruptcy in September, with the former owing billions to lenders.
The announcement was followed this week by news that Zions Bancorp had a US$50 million charge-off tied to commercial loans from its California arm, while Western Alliance said a borrower failed to deliver the promised collateral.
The news sent mid-sized banking shares tumbling and fanned out to the rest of…
