Asian stocks opened lower and bond yields surged on Monday following a fresh high in American inflation that heaped pressure on the Federal Reserve to intensify monetary tightening.
Equities shed about 2% in Japan and South Korea. US equity futures slid, with Nasdaq 100 contracts down 2% and those for the S&P 500 1.3% lower. The declines come in the wake of steep losses on Wall Street that contributed to the worst drop in global shares last week since October 2020.
In Asian deals, S&P 500 futures fell 1.3%, while Nasdaq 100 futures fell 2%.
Japan’s Topix index was down 2%, and South Korea’s Kospi index shed 2.6%.
Friday, on the Wall Street, stocks were deep in negative territory…
Nifty below 15,900, Sensex crashes 1200 pts at open -
Indian indices tumbled on Monday tracking peers, while the rupee fell past 78 to a dollar. Asian markets sank amid a global rout fuelled by record high US inflation that ramped up bets on aggressive Fed rate hikes. A fresh surge in covid cases in Beijing also weighed
Equities continue to witness sell-off after a record US inflation print led to fears of more aggressive monetary tightening by the US Fed. Markets are also contending with Covid outbreaks in China, where Beijing and Shanghai resumed mass virus testing.
ShriStockTips- News
Nifty below 15,900, Sensex crashes 1200 pts at open.
Rupee slides beyond 78 per US dollar for first time, hits record low .
Bitcoin falls to 18-month low, ether, dogecoin, other crypto prices also plunge .
SGX Nifty falls in early deals .
Asia stocks sink; US inflation, covid cases weigh on investor sentiment .
Stocks to Watch: Reliance Industries, M&M, LIC, Coal India, BPCL, Jindal Steel .
Asian stocks sink amid US CPI hike, Covid-19 scare from China.
Maharashtra reports 2,946 new Covid-19 cases, active tally at 16,370 .
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