Growth in China's factory activity faltered in January, an official survey showed, as export orders fell and an outbreak of a new virus added to risks facing the world's second-largest economy.

For a while now, the United States government has been spending more money each year than it takes in. That is what economists call "deficit spending". As all those deficits accumulate, it contributes to US national "debt". At $23 trillion and counting, the US already has a whopper of one.

Asian shares erased Wednesday's initial gains, swinging into negative territory as a spike in new coronavirus cases sent Hong Kong stocks tumbling on the first day of trading after the Lunar New Year holiday.