Investing.com-- Asian stocks fell sharply on Monday, extending last week’s losses amid growing fears of a U.S. economic slowdown, with Japanese markets set to enter a bear market from their July record highs.
Japanese stocks were battered by a mix of heavy profit-taking- with foreign investors pulling out en-masse as the Japanese yen appreciated sharply. The reading helped slightly improve sentiment towards China after dismal readings on the manufacturing sector last week.Broader Asian markets tumbled as appetite for risk-driven stocks was dented by the prospect of worsening economic conditions. Safe havens such as the Japanese yen and gold saw inflows.tumbled 5.5%, notching extended losses on weakness in technology stocks. The sector was battered by a mix of profit-taking and middling earnings from major U.S. tech firms.
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