HONG KONG – Asian markets sank Monday following big losses on Wall Street as inflation worries and the spreading Delta virus variant fuel worries about the global recovery, while oil prices also sank after top producers reached a deal to hike output.
Hong Kong was the worst hit after the United States warned businesses about the “growing risks” of operating in the city as China tightens its grip, raising concerns about its future as a financial hub.
With vaccines being rolled out around the world and some governments easing lockdowns, equities enjoyed a healthy first half of the year, with many hitting records or multi-year highs as traders bet on a strong rebound fro…
Keep on reading: Asian markets drop on fresh inflation, virus worries