global recovery

China's foreign reserves have surged past $3 trillion, driven by currency controls that Washington and other governments complain are distorting trade and hampering a global recovery.

Gainers

• SPDR Gold Shares (NYSE: GLD) up 1.00% to $140.44. Investors moving back into gold as a safe haven investment, as crude prices still hover around $105 per barrel amid conflicts in Libya and a bus bombing in Jerusalem, despite an inventory increase last week.
  
  The higher oil prices add to uncertainty of a continued global recovery.
• United States Oil (NYSE: USO) up 0.74% to $42.24.

Most Asian stock markets slid Monday, pressured by worries over a slowing global recovery and oil prices that rose to their highest level in more than two years as the conflict in Libya escalated.

The Group of 20 leaders agreed on Friday to curb “large imbalances” in saving and spending that impede the global recovery but deferred decisions on fixing them.

Intensifying friction over currencies and trade are confronting leaders of major economies as they converge on Asia for back-to-back summits aimed at safeguarding the still fragile global recovery.

Stock futures retreated Tuesday following the lead of overseas markets as investors worldwide continue to worry about the pace of a global recovery.

The stock market began August with a huge rally after economic and earnings reports from around the world revived investors' faith in the global recovery.

South Korea's central bank raised its forecast for the country's economic growth this year to 5.9 percent on solid exports as well as capital and consumer spending amid a stronger global recovery.

South Korea's central bank raised its forecast for the country's economic growth this year to 5.9 percent on solid exports as well as capital and consumer spending amid a stronger global recovery.

The dollar fell against the euro and other major currencies Monday morning as strong manufacturing data from Europe reassured investors worried about the global recovery.