Asian stocks fell the most in two weeks as investors prepare for rapid US rate rises and slowing growthA man wearing a protective face mask talks on his cellphone in front of a screen showing the Nikkei index outside a brokerage in Tokyo, Japan. Picture: REUTERS/ATHIT PERAWONGMETHA
The euro was broadly steady at $1.0802, compared with broad dollar gains elsewhere, and it touched an almost two-month high against a struggling sterling. US shares had tumbled at the end of last week after Federal Reserve chair Jerome Powell said a 50 basis-point rate hike was on the table at this year's May meeting and St Louis Fed President James Bullard floated the idea of 75 bps hikes.
China's blue-chip CSI 300 index fell to its lowest since June 2020 and investors have so far been underwhelmed by policy support for the flagging economy.