Asian stocks tumbled on Wednesday after various surveys showed factory activity around the world took a further turn for the worse in July.Investors also fretted over the state of U.S. finances and its debt burden after Fitch downgraded the U.S. government's credit rating from AAA to AA+, citing fiscal deterioration and repeated debt ceiling standoffs.The decision sparked a fiery rebuttal from the...
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.