Asian stocks slump amid risks from U.S. CPI, China COVID struggle

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Reuters UK

By Kevin Buckland TOKYO (Reuters) – Asian stocks sank on Monday and bond yields ticked higher, as red-hot U.S. inflation reignited worries about even more aggressive Federal Reserve policy tightening, and a COVID-19 warning from Beijing added to concerns about global growth. Chinese blue chips dropped 0.84%, and Hong Kong’s Hang Seng suffered a 2.9% slide. Japan’s Nikkei slumped 2.78%, and South Korea’s Kospi declined 2.78%. New Zealand’s stock benchmark was off 2.1%. Australian markets were closed for a holiday. U.S. stock futures pointed to further losses at the reopen, with the S&P 500 indi…

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