Asia Markets: Asian markets pull back following Wall Street’s Friday flop

Many stock markets in the Asia-Pacific region started the week lower on Monday following large declines in the U.S. and Europe on Friday.

Indexes in Japan NIK, -2.20% , Australia XJO, -1.28% , New Zealand NZ50GR, -1.57% and South Korea SEU, -1.56% all fell more than 1%. S&P 500 futures ESH8, -0.54% were down 0.6%. On Friday, they fell 2.1%, the largest drop in 17 months.

Friday’s drop in the U.S. was blamed on rising wages. Investors were worried that rising inflation could prompt central banks to tighten monetary policy faster than expected.

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