Asian Stocks Extend Global Rout as Draghi Disappoints Investors
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Asian stocks joined a global selloff as the scale of further stimulus by the European Central Bank disappointed some investors.
The MSCI Asia Pacific Index dropped 1.1 percent to 132.12 as of 5:16 p.m. in Tokyo, with consumer discretionary and health-care stocks leading losses. U.S. stocks sank the most in two months on Thursday while European equities tumbled after ECB President Mario Draghi announced a deposit-rate cut and bond-buying extension that fell short of what some traders had envisaged. Meanwhile, Federal Reserve Chair Janet Yellen indicated the conditions for higher interest rates in the U.S. have been met, with the focus now shifting to Friday’s jobs report.