Asia Stocks Slump Following Wall Street Rout on Strong Inflation
- MSCI Asia Pacific Index falls about 2%, most in two weeks
- Asia faring better than US on valuations, China support hopes
This article is for subscribers only.
Asian stocks fell as hotter-than-expected US inflation data fueled bets on outsized interest rate increases by the Federal Reserve.
The MSCI Asia Pacific Index slumped as much as 2.3% Wednesday, the most in two weeks, following the steepest drop in US shares in more than two years. Almost all markets in the region were down, led by Japan, Australia and Hong Kong. A gauge of technology stocks dropped about 3%.