Asia shares drop as Treasury yields hit fresh highs

Business
Published by
Reuters UK

By Daniel Leussink TOKYO (Reuters) – Asia’s share markets struggled on Wednesday as U.S. Treasury yields hit fresh two-year highs and a global technology stock sell-off unsettled investors worrying about inflation and bracing for tighter U.S. monetary policy. Oil prices hit their highest since 2014 amid an outage on a pipeline from Iraq to Turkey and global political tensions, stoking fears of inflation becoming more persistent and propping up the dollar, which hovered near one-week highs. MSCI’s broadest index of Asia-Pacific shares outside Japan reflected the sombre tone, trading down 0.1% i…

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