Asian stocks slide as Wall St tips into bear market

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Reuters

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%. In Hong Kong, the Hang Seng Index slipped 1.44% and China’s CSI300 Index was down nearly 1% at the open. The negative tone in Asia follows a bleak session i…

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