A pedestrian strolls past an electronic quote board showing share rates of the Tokyo Stock Exchange in Tokyo on June 16, 2020.
Kazuhiro Nogi|AFP|Getty Images
Shares in the Asia-Pacific dropped dramatically on Wednesday after indexes on Wall Street plunged following a higher-than-expected U.S. customer cost index report for August.
Japan’s Nikkei 225 dropped 2.78% to 27,81862, and the Topix index fell 1.97% to 1,94746
The Japanese yen earlier hovered around the 145- mark, its weakest levels given that September 1998– prior to enhancing after a report stated the Bank of Japan performed a “rate check.”
The Hang Seng index in Hong Kong dipped 2.33% in the last hour of trade, and the Hang Seng Tech index fell 2.68%. In Australia, the S&P/ ASX 200 shed 2.58% to 6,82860
The Kospi in South Korea lost 1.56% to 2,41142– the won passed the 1,390- mark versus the greenback, the weakest levels given that March 2009.
Mainland China’s Shanghai Composite lost 0.8% to 3,23754 and the Shenzhen Component fell 1.247% to 11,77478
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 2.26%.
The U.S. 2-year Treasury yield likewise reached 3.79%, the greatest level given that2007 The Dow Jones Industrial Average lost 1,27637 points, or 3.94%, to close at 31,10497 The S&P 500 shed 4.32% to 3,93269, and the Nasdaq Composite lost 5.16% to end the session at 11,63357
“What is perhaps most disconcerting in all this is that the strength in core inflation is very much service sector-led categories,” stated Ray Attrill, National Australia Bank’s head of FX technique, composed in a note, including the sector is mainly wage inflation-driven.
— CNBC’s Jeff Cox, Jesse Pound and Carmen Reinicke added to this report.
