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Asian stocks fall as growth pessimism mounts

5:13 AM, Sep 26, 2012   |    comments
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HONG KONG (AP) - Asian stock markets fell today after pessimism about global growth prospects sparked Wall Street's worst sell-off in three months.

Charles Plosser, president of the U.S. Federal Reserve's Philadelphia branch, told an audience that the Fed's efforts to support the world's biggest economy would likely fall short of its goals. That soured sentiment and sent Wall Street lower Tuesday.

Global stocks had risen earlier in the month as the Fed and other central banks came up with measures to boost sluggish growth. But optimism stemming from those moves has faded.

The dollar rose against the euro but fell against the yen.

Benchmark crude oil fell below $91 a barrel.






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