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(Bloomberg) Asian stocks dropped, with the regional benchmark briefly erasing its gains for the year, as mounting worries over inflation and a resurgence in Covid-19 cases soured investor sentiment.
The MSCI Asia Pacific Index slid as much as 1% and was down 0.9% as of 12:52 p.m. in Tokyo, tracking losses in American shares after data on Wednesday showed U.S. consumer prices climbed in April by the most since 2009. The Asian gauge has now fallen more than 9% from a Feb. 17 peak.
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