On Friday, Asian stocks and U.S. Treasury yields declined, while the Swiss franc and Japanese yen strengthened as investors sought safety following weaker-than-expected U.S. factory data that heightened concerns about a deteriorating economic outlook.
Data released on Thursday indicated that U.S. manufacturing activity fell to an eight-month low in July due to a drop in new orders. This report followed separate figures showing that the number of Americans filing new unemployment claims had risen to an 11-month high the previous week.
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