Asian Equities Lower after Global Selloff

Asian equities were mostly lower on Friday following a selloff in global equity markets overnight. Indian shares opened to fresh record highs as early vote counts saw the Bharatiya Janata Party (BJP) in the lead.

Wall Street shares fell for a second session as the 10 year Treasury yield dropped below 2.5 percent to a fresh six-month low. Both the Dow Jones Industrial Average and the S&P 500 lost 1 percent each while the Nasdaq closed down 0.8 percent.

European stocks were hit following disappointing gross domestic product data. The German and French benchmark indices lost over 1 percent each while Spain’s Ibex dropped over 2 percent after data showed the euro zone economy grew a quarterly 0.2 percent in the first three months of the year.


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