Sydney — Asian shares fell the most in more than a year on Monday as the fear of resurgent inflation battered bonds, toppled Wall Street from record highs and sparked speculation that central banks globally might be forced to tighten policy more aggressively. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 1.7% in the largest daily drop since late 2016. E-Mini futures for the S&P 500 fell another 0.3%, an unusually sharp move for Asian hours and suggesting further losses in US markets later in the session. Dow futures slipped 0.6% while FTSE futures lost 1%. Asian markets was covered in a sea of red, with every single bourse stumbling. Japan’s Nikkei sank 2.6%, while Australia’s main index lost 1.6% and Chinese blue chips slid 0.7%. Investors were spooked by Friday’s US payrolls report, which showed wages growing at their fastest pace in more than eight-and-a-half years and fuelling inflation expectations. Futures markets reacted by pricing in the risk of three, or e...
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