Asian stock markets retreat following Wall Street declines and global bond sell-off
Asian markets experienced sharp losses following declines on Wall Street and a deepening global bond sell-off.
Asian stocks declined as losses on Wall Street and a deepening sell-off in the global bond market weighed on sentiment. Early Wednesday, U.S. futures showed a mixed trend, while rising energy prices and inflation concerns continued to pressure markets.
Latest Status on Wall Street and U.S. Markets
During Tuesday's session, the S&P 500 fell by 0.7%, while the Dow Jones Industrial Average dropped 0.8% and the Nasdaq index decreased by 1%.
Amidst this downward trend, Nvidia lost 1.5%, Amazon declined by 1.9%, and AMD fell by 2.4%.
General Decline Wave Across Asian Markets
In Tokyo, the Nikkei 225 index dropped 3% to 64,278.95, with SoftBank Group shares losing 6.3% in value.
In South Korea, the Kospi index decreased by 3.6% to 6,588.95, while Samsung Electronics fell 3.3% and SK Hynix dropped 3.5%.
Losses Seen in Other Asian Stock Exchanges
Hong Kong's Hang Seng index fell 0.8% to 25,126.40, and the Shanghai Composite index decreased by 0.9% to 3,943.22.
In Australia, the S&P/ASX 200 index dropped 1.1% to 8,971.90, while Taiwan's Taiex index lost 1.5% in value.
Bond Yields and Global Economic Indicators
The yield on 10-year U.S. Treasury bonds rose to 4.8%, while Japan's 10-year government bond yield reached 3.02%, its highest level since 1996.
In currency markets, the U.S. dollar climbed to 160.27 Japanese yen, while the euro traded at $1.1578.
Energy Markets and Inflation Concerns
Oil prices showed an upward trend following U.S. military strikes and retaliatory missile and drone responses in the region.
Brent crude futures rose 1% to trade at $95.56 a barrel, while U.S. benchmark crude increased 0.7% to $90.88.