Asia Markets: Asian markets tumble on recession fears, Nikkei slides 3%

Asian markets plummeted in early trading Monday, amid heightened recession worries.

On Friday, the closely watched yield curve inverted, a key indicator of a potential U.S. recession. That sent global bonds yields plunging. Weak economic data from Europe added to fears of a global economic slowdown. Investors are also awaiting China-U.S. trade talks that are due to resume Thursday in Beijing.

Japan’s Nikkei NIK, -3.14% tumbled more than 3% on Monday. Hong Kong’s Hang Seng Index HSI, -1.84% fell 1.8%, while the Shanghai Composite SHCOMP, -1.37% slid 1.2%. South Korea’s Kospi SEU, -1.67% sank 1.6%, and benchmark indexes in Taiwan Y9999, -1.47% , Singapore STI, -1.36% and Indonesia JAKIDX, +0.36% dropped as well.

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