Asian stocks sank on Monday as shock US inflation data sparked fears of more aggressive interest rate hikes by the Federal Reserve, while news that Chinese authorities had ordered more mass testing for Covid in Beijing added to concerns over further lockdowns.
The Nikkei posted its biggest drop in over four months to end at a two-week low, with heightened expectations about US rate hikes driving the yen to a 24-year low against the dollar.
Nothing to see here, just crpyto crashing to year long lows, S&P500 crashing, and Asian markets all opening down
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