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Bear Markets Show Pain Across Asia Equities as Fed Hikes Near

  • Korea’s Kospi, China’s CSI 300 fall into bear markets
  • Australia’s benchmark entered a technical correction
Updated on

Weeks of fretting over the Federal Reserve’s plan to combat inflation with higher interest rates is coming to fruition as Asian stock markets tumble into bear markets and technical corrections.

The MSCI Asia Pacific Index slid as much as 2.7% Thursday, pushing it down more than 17% from its recent high, after Fed Chair Jerome Powell signaled a March lift-off for interest rates. South Korea’s tech-heavy Kospi extended its drop since a July peak to 21%, entering a bear market, as investors dumped growth stocks amid rising yields. China’s CSI 300 Index also slipped into bear territory.