Asia stocks slide, US dollar rallies as recession fears deepen

Asian stocks slipped and the US dollar stood by a two-decade high on the euro on Wednesday (July 6)

As investors' fears deepened that Europe is leading the world into recession,

while oil attempted to steady after a slide.

Brent crude futures bounced 1.4 per cent in morning trade to US$104.18 a barrel,

Nursing its wounds after a 9.5 per cent drop to a 2½-month low on Tuesday with worries

That a global growth slowdown is going to sap demand.

Japan's Nikkei fell 1.3 per cent, on course for its first loss of the week.

Hong Kong's Hang Seng index slumped 1.6 per cent, while the Shanghai Composite fell 1.4 per cent,