Asian shares are set to slide to near their 2011 troughs on Monday following weak U.S. economic data and falls in oil prices that showed no sign of abating, stoking further worries about a global economic downturn, Reuters reported. Nymex’s crude oil dropped 7.72% to US$28.79 per barrel in Asian trading this morning, the lowest since 2003 in Asian trading as the market braced for a jump in Iranian oil exports following the lifting of the sanctions at the weekend.

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