Shares in Asia-Pacific markets extended losses on Wednesday, following another dip on Wall Street overnight, on concerns of aggressive monetary tightening by the Federal Reserve to combat inflation.
As of 9.26 a.m. Thai time, the Nikkei 225 in Japan traded 1.16% lower and the Hang Seng index in Hong Kong shed 1.53%.
In mainland China, the Shanghai Composite lost 0.08%.
In South Korea, the Kospi was 1.50% lower, and the S&P/ASX 200 in Australia dropped 1.31%
An Asian stock index hit its lowest level since 2020 as equities plummeted across the region. Futures markets in the United States and Europe were both down as well.
Over in the U.S., equities continued to decline, adding to the previous day’s losses. The Dow Jones Industrial Average fell 0.6%, closing at 31,145.3. The Nasdaq Composite Index, which is heavily weighted toward technology companies, sank 0.7% to 11,544.91, while the S&P 500 fell 0.4% to 3,908.19.
