Asian stocks fell on Friday on lingering fears that trouble in the subprime mortgage market could spread to the rest of the U.S. economy, and as stronger-than-expected inflation data dimmed hopes for an interest rate cut by the Federal Reserve.
The dollar fell to a 2-1/2-month low against the euro and eased against the yen as investors remained nervous about holding risky positions after big drops in global stock markets in recent weeks and ahead of more U.S. inflation data later in the day.
Gold firmed, while crude oil extended losses after retreating 1 percent overnight.
Read more at Reuters.com
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