Asian shares fell, extending a slump that has wiped $4 trillion from global stock markets this year, on speculation the U.S. economy is in recession.
Yue Yuen Industrial Ltd., the biggest supplier of shoes to Nike Inc. and Adidas AG, dropped the most in five years after profit missed analysts' estimates. BHP Billiton Ltd., the biggest mining company, fell along with metal and oil prices. Toyota Motor Corp. led declines among companies reliant on U.S. consumers.
``The market's running on fear and uncertainty at just how big the slump in the U.S. will be,'' said Shane Oliver, who helps manage the equivalent of $113 billion at AMP Capital Investors in Sydney. ``There are serious worries about the Asian growth outlook in response to the U.S. downturn.''>>>MORE
We had the BHP/RTP revised bid rumors earlier today, HERE.