Stock market today: Asian markets, oil lower as recession fears, debt ceiling darken outlook

Asian shares were mostly lower Monday, dogged by persisting worries over a possible recession and the risk of a default on the U.S. national debt. U.S. futures and oil prices also fell.  

This week will bring major updates on the Chinese and Japanese economies. China's faltering rebound from disruptions caused by limits on travel and other activities during the COVID-pandemic has raised worries that it won't provide the sort of growth needed to offset slowdowns in other major economies.  

“The sharp moderation in China’s economic surprise index since the start of the month suggests that economic data are turning in less optimistic than before, which puts some doubts on markets’ reopening bets,” Yeap Jun Rong, a market analyst at IG, said in a commentary.  

Tokyo's Nikkei 225 bucked the regional trend, gaining 0.4% to 29,507.03.