Asian markets fluctuate as oil, euro struggle on recession fears

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Asian markets fought Wednesday to recover some of the losses suffered at the start of the week as recession alarms continue to ring loud and oil struggled to erase the previous day’s sharp drop owing to growing demand fears.

The euro clawed its way back slightly after hitting parity with the dollar for the first time in two decades, though it remains under pressure from growing concerns about an energy crisis across the eurozone and the European Central Bank’s slower pace of monetary tightening.

Traders are also awaiting the release of a series of key indicators this week, including the all-important consumer price index later Wednesday.—AFP

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