Asia stocks slip as oil hovers near record

By Kevin Plumberg HONG KONG (Reuters) - Asian stocks slipped on Friday as record high crude oil prices threatened to jeopardize earnings and curb consumer spending, with the uncertain economic outlook following U.S. jobs data boosting safe-haven government bonds. This week has been punctuated by stagflation fears and deteriorating sentiment after the Dow Jones industrial average slipped into a bear market this week, down more than 20 percent from October highs, joining Asia markets and pushing investors into safety-first mode. The unfavourable combination of feeble growth and high inflation known as stagflation has caused many analysts to adjust downward their expectations for regional equities and investors to pull back on their willingness to take risks for higher returns. "Asia is suffering from its own inflationary bout.... [read full story]