Asian stocks have fallen below a key technical support level, a bearish sign for the region’s shares. The MSCI Asia Pacific Index dropped below its 200-day moving average Wednesday morning, the first time in almost two years, putting it at risk to snap its bullish streak one session shy of 500 consecutive days. Risk assets are suffering this week as concerns about the repercussions of Italy’s political turmoil and the renewal of trade tensions between the U.S. and China have grip financial markets.
Source: Bloomberg Pro Terminal
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