Gold Silver Reports (GSR) – Asia Stocks Extend Drop in Worst Week Since March — Asian stocks fell, extending the worst week for regional equities since late March, amid concern global trade restrictions will curb growth. Treasuries pared gains and oil prices rose as OPEC moved closer to a deal on output.
A drop in Japan’s Topix index brought the week’s decline to almost 3 percent, while equities also fell in China and Hong Kong. Australian shares outperformed. The S&P 500 Index closed lower and the Dow Jones Industrial Average posted its eighth straight drop after the Supreme Court ruled states can collect sales tax from online retailers, rattling Amazon.com and EBay. The dollar steadied while West Texas oil rose above $66 as OPEC and its allies reached a preliminary agreement despite strong opposition from Iran to boost production.
