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Asia Stock Carnage Deepens as Hopes Fizzle With Policy Updates

  • Regional gauge drops as much as 1.9% before paring decline
  • Markets may be preparing for sustained downside: IG’s Rodda
Updated on

Asia’s equity traders are once again hitting the sell button with conviction.

The regional equity gauge opened lower after Federal Reserve Chairman Jerome Powell delivered another interest-rate increase and signaled the central bank sees little threat to the economy from the recent market turmoil. Losses only worsened as the Topix index entered a bear market after the Bank of Japan kept policy unchanged.