Asian stocks slide as recession fears tip Wall St into bear market

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Reuters UK

By Scott Murdoch HONG KONG (Reuters) -Asian shares tumbled on Tuesday after Wall Street hit a confirmed bear market milestone and bond yields struck a two-decade high on fears aggressive U.S. interest rate hikes would push the world’s largest economy into recession. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.9%. Australian shares S&P/ASX200 sank 5% in early trade, while Japan’s Nikkei stock index was down 1.74%. The negative tone in Asia follows a bleak session in the U.S on Monday, which saw Goldman Sachs forecast a 75 basis point interest rate hike at the Federal R…

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