Asian stocks fall 2nd day on global growth concern

BEIJING (AP) — Asian stocks fell again Tuesday after weaker Chinese manufacturing and a cut in Europe's growth outlook fueled fears about the global economy.

The latest data, combined with the Australian central bank's decision to cut interest rates, "challenged expectations of growth recovery," said Citigroup in a report.

A survey of manufacturers found activity weakened in April despite government efforts to stimulate the slowing economy.

A prolonged slowdown could hurt prices of commodities for which Chinese factories are major customers and the economies that supply them.

European officials trimmed their economic growth forecasts for the 19 countries that share the euro currency, citing an unpredictable global outlook marked by political uncertainty and weakness in emerging markets.