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Korean stocks tumble on Wall Street declines

Korean stocks tumble on Wall Street declines

Nasdaq loses more than two percent in major sell-off on Wall Street

U S stocks crumble as interest rates rise, oil falls

CNN CNN Newsroom Live March 17, 2022 06:50:00

asian markets are responding in kind. it s expected on wednesday the fed hiked interest rates by a quarter of 1 percentage to tame inflation, seeing its highest level since the 1980s and also signaled a series of aggressive moves ahead. more rate hikes ahead, and this is how asian shares are responding. we ll bring up the data for you, and you will see some strong gains across the board. shares have been rallying this day. the japanese nikkei up about 3.5%. australia s main index up about 1%. the kospi gaining over 1.5%. here in hong kong, strong gains here about 5, almost 5.5%. i should add that on wednesday, china s shares had their best day in years after the vice-chairman stepped forward and vowed to keep the market stable and to boost economic growth as well. previously earlier on in the week, there was a big sell-off in chinese stocks due to concerns over the ongoing covid-19 outbreak in china,

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