by Clarence Oxford
Los Angeles CA (SPX) Nov 14, 2025
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Pakistan has not suspended the Afghanistan Transit Trade Agreement, but it was not processing goods clearance due to the closure of borders to avoid congestion at Chaman and Torkham borders, said senior officials of the Pakistan Customs. Photo:…
TL;DR: Save 43% on the Kinhank Super Console X2 Pro retro gaming emulator that you can also use to watch movies.
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Tourists visit the Nanjing Road Scenic Area in Shanghai, China, on October 20, 2025.
Nurphoto | Nurphoto | Getty Images
Asia-Pacific markets slid Friday, tracking losses on Wall Street as technology stocks continued to come under pressure and Fed rate-cut doubts swirled.
Japan’s benchmark Nikkei 225 index lost 1.85%, while the Topix slid 1.03%. South Korea’s Kospi fell 2.29% and the small-cap Kosdaq was 1.42% lower.
Australia’s S&P/ASX 200 lost 1.58%.
Futures for Hong Kong’s Hang Seng Index pointed to a lower open, trading at 26,701, against the index’s previous close of 27,073.03.
China will release data on retail sales, industrial output, and fixed-asset investment for October today. Fixed-asset investment, which includes real estate, fell unexpectedly by 0.5% in September.
Overnight in the U.S., all three major averages closed lower as investors continued to sell shares of technology companies, especially those in the artificial intelligence trade, amid worries about their valuations.
The Dow Jones Industrial Average lost 797.60 points, or 1.65%, to settle at 47,457.22, well off the record highs set in the previous session. The S&P 500 shed 1.66% to finish at 6,737.49.
The broad-based index saw notable declines in the information technology and communication services sectors, led by Disney, which fell nearly 8% on mixed results for its fiscal fourth quarter. The Nasdaq Composite pulled back 2.29% to close at 22,870.36. All three major averages, as well as the small-cap Russell 2000 index, suffered their worst day since Oct. 10.
Recent remarks from Fed chair Jerome Powell’s colleagues point to plenty of apprehension over whether the central bank should deliver its third consecutive easing of policy when it meets Dec. 9-10.
“Given my baseline outlook, it will likely be appropriate to keep policy rates at the current level for some time to balance the inflation and employment risks in this highly uncertain environment,” Boston Fed President Susan Collins recently said.
As a result, markets have recalibrated their expectations. Whereas traders as recently as a few days ago were pricing in at least a 2-to-1 probability of a quarter percentage point cut, that’s now flipped to a coin toss, according to futures markets readings tabulated by the CME Group in its FedWatch tool.
— CNBC’s Jeff Cox, Sean Conlon and Pia Singh contributed to this report.
More than a dozen primary and preschools in the ACT have shut their doors after an asbestos warning was issued for a range of colourful children’s sand products imported from China and sold at leading Australian retailers.
On Friday morning, the ACT’s education minister, Yvette Berry, confirmed 15 schools and three preschools would be fully closed and five schools would be partially closed to multiple cohorts while testing and remediation took place.
It followed a recall of 1.3kg versions of Kadink Sand (1.3kg) and Educational Colours – Rainbow Sand, as well as the 1kg packages of Creatistics – Coloured Sand products by the Australian Consumer Competition Commission (ACCC) on Wednesday due to chrysotile asbestos concerns.
In a post to Facebook around 9am on Friday morning, Berry said the situation was “evolving” and she understood the news “might be upsetting” for families.
She said the decorative sand product was used at some of the ACT’s public schools for sensory play and arts and crafts.
“WorkSafe ACT have advised the risk of exposure to traces of chrysotile is low, however the safety of students, staff and families is our highest priority,” she wrote.
“The decision to close schools has been made in line with Education Directorate policy and on the advice of WorkSafe on the safe management and remediation process required.
“The Education Directorate will advise of the testing results as soon as possible … The Education Directorate is providing advice to non-government schools, as well as early childhood education and care services.”
The ACCC said the products were sold throughout Australia between 2020 and 2025 including by other retailers Educating Kids, Modern Teaching Aids and Zart Art.
Officeworks has also recalled KD Plain Sand (1.3kg), KD Magic Sand (2kg) in natural and purple, and Kadink six-piece decorative sand over the concerns.
It said the products were made in China and nearly all of them were supplied by the art supplies company Educational Colours, apart from Kadink decorative sand, which was supplied by local wholesaler Shamrock Australia.
Cranleigh School, a specialist school in Holt, was among the schools to have shut.
In a post to Facebook on Friday morning, it said testing was already underway in some schools, which would continue over the weekend.
“Staff are not expected to provide teaching and learning to students today,” the post read. “Other duties that can be undertaken from home can continue. We are unable to access the building at all today.
“When works are complete, a clearance report will be provided to deem the spaces safe to use. On Sunday afternoon, we will confirm teaching and learning arrangements for Monday.”
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Asbestos, a hazardous material that can cause terminal diseases and has been banned in Australia since 2003, is not allowed to be imported except in very limited circumstances.
Worksafe ACT urged anyone with the product in their home or arts and crafts containing the sand to dispose of it immediately and do everything they can to prevent fibres from becoming airborne.
That included wearing disposable gloves, a P2-rated face mask and protective eyewear when disposing of any products.
“Do not disturb or use it and isolate the product,” the authority said.
“Carefully double wrap the sand, its container, and any related materials in 200-micron plastic bags, seal securely with tape, and clearly label the package as asbestos waste.”
Asbestos cannot be disposed of in general waste and must be taken to resource management facilities.
Asbestos-contaminated mulch prompted the closure of schools, hospitals and parks in Sydney in 2024 while historic dumping and legacy contamination was blamed for traces found at parks in Melbourne’s west.
-with AAP.