Stocks dive on surging inflation, Ukraine risks; China markets slump – Reuters

Stocks dive on surging inflation, Ukraine risks; China markets slump – Reuters

TOKYO, March 11 (Reuters) - Asian shares extended a global slump on Friday after the fastest U.S. inflation in four decades bolstered expectations for more aggressive rate hikes, and as Chinese equity markets slumped over regulatory concerns of U.S.-listed mainland firms.

Sentiment also suffered on worries over Russia's war against Ukraine, after talks between their foreign ministers on Thursday brought little respite in the conflict between the two countries.

"We've got a terrible macro backdrop (with) a serious inflation problem implying that we're going to see much, much tighter monetary policy," said Rob Carnell, chief economist at ING in Singapore.