Shares were mostly lower in Asia on Monday after Wall Street logged its worst week since the pandemic began in 2020.
Tokyo’s Nikkei 225 index NIK, +0.14% edged 0.1% lower while the Hang Seng HSI, -0.97% in Hong Kong shed 0.9%. In Australia, the S&P/ASX 200 XJO, -0.51% lost 0.5%, and South Korea’s Kospi 180721, -1.68% dropped 1.5% on heavy selling of big technology companies like Samsung 005930, -0.93% and SK Hynix 000660, -0.84%.
Historically low rates, dubbed quantitative easing, or QE, have helped support the broader market as the economy absorbed a sharp hit from the pandemic in 2020 and then recovered over the last two years. Rising costs have raised concerns that consumers will start to ease spending because of the persistent pressure on their wallets. At the same time, outbreaks of the omicron variant of the coronavirus threaten to slow recoveries from the crisis.
Treasury yields have fallen as investors turn toward safer investments. The yield on the 10-year Treasury was steady Monday at 1.78%.
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