Asian Stocks Drop on Concerns Over Mideast Tensions, Hawkish Fed
- Main equity gauges in Taiwan and Japan lead regional losses
- Heavyweight TSMC slides after lowering chip market outlook
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Asian stocks slid as broad risk aversion swept through markets on renewed concerns over an escalation of tensions in the Middle East and worries about higher-for-longer US rates.
Friday’s session started on weak footing after hawkish commentary from Federal Reserve officials, indicating rate cuts could be pushed back toward the end of the year if they occur at all in 2024.