Japanese Stocks Tumble, Leading Equities Selloff: Markets Wrap

-- A stocks selloff worsened on Monday as concerns grew that the Federal Reserve will delay acting on a slowing US economy. Japanese shares plunged for a third day as traders priced in more domestic rate hikes.A Radical Fix for Britain’s Housing Crisis: A New Offshore City

Oil rose on Monday after Saudi Arabia lifted the price of crude it sells to Asia and amid reports Iran may strike Israel to avenge assassinations of Hezbollah and Hamas officials. Saudi Arabian and Israeli stocks slumped more than 2% on Sunday, outpacing Friday’s losses on Wall Street.A worsening conflict in the Middle East risks adding more tumult to markets as investors brace for a turbulent second half of the year.

Elsewhere this week, the Reserve Bank of Australia’s policy meeting will be parsed to confirm bets of easing by year-end, while US economic activity and credit data and speeches from regional Fed bank presidents will be closely watched.The Bloomberg Dollar Spot Index was little changedThe offshore yuan rose 0.3% to 7.1431 per dollarJapan’s 10-year yield declined 14 basis points to 0.815%Spot gold fell 0.9% to $2,422.41 an ounceRecession fears are gripping the market.

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