Asian shares sink after Wall Street suffers biggest fall since 2011
Tokyo — Asian shares and US stock futures sank on Tuesday, after Wall Street suffered its biggest decline since 2011 as investors’ faith in factors underpinning a bull run in markets began to crumble. S&P mini futures fell as much as 2.5% to nearly four-month lows in Asia, extending their losses from the record peak hit just more than a week ago to almost 12%. MSCI’s broadest index of Asia-Pacific shares outside Japan slid 3.5% to a one-month low, which would be its biggest fall in more than a year and a half, a day after it had fallen 1.6%. Japan’s Nikkei tumbled as much as 5.6% while Taiwan shares lost 5.3% at one point. Australian shares dropped 3.0% to their lowest since October while South Korean shares fell 3.0%. The rout came after US stocks plunged in highly volatile trading on Monday, with the Dow industrials falling nearly 1,600 points during the session, its biggest intraday decline in history, as investors grappled with rising bond yields and potentially higher inflation...
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