Asian stock markets tumble after Wall Street rout3 min read . Updated: 25 Oct 2018, 08:32 AM IST
Overnight, the S&P 500 Index erased this year’s gains following mixed earnings reports from companies such as AT&T and Texas Instruments.
An equities rout that wiped out this year’s gains for US stocks spread to Asia today as concerns mounted that corporate profits and economic growth are peaking amid rising borrowing costs. The yen climbed on demand for haven assets, while Treasuries held gains and the dollar nudged lower. Most stock gauges across the region lost more than 2 percent, pushing the MSCI Asia Pacific Index deeper into a bear market.
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