Asian stocks extend global slide as inflation fears bite

Published by
Reuters

By Kevin Buckland TOKYO (Reuters) – Asian equities followed Wall Street sharply lower and bonds rallied on Friday as risk sentiment soured amid growing worries that inflation may persist even after global growth has peaked. Japan’s Nikkei tumbled 1.86%, while the broader Topix slid 1.95%. Australian stocks slumped 2.05% and South Korea’s Kospi lost 1.51%. An MSCI index of Asia-Pacific stocks dropped 1.07%. Chinese markets are closed for a week from Friday for the Golden Week holiday. “You can argue whether it’s really stagflation or not, but the whole growth-inflation backdrop seems to have ju…

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