Forex
Warsh's Rate Hawkishness Drives Asian Stocks Down Amid September Rate Hike Bets
Asian stocks fell sharply on Monday after hawkish comments from US Federal Reserve chair Kevin Warsh boosted bets on an interest rate hike in September.
The Kospi Index, which tracks artificial intelligence investments, slid 1.6% with chipmakers Samsung Electronics and SK Hynix leading losses.
Nasdaq 100 futures fell 0.5%, while the Shanghai Composite dropped 0.2% and Hong Kong's Hang Seng fell 0.7%.
Gold prices extended their losses, trading around $4,425 an ounce, as investors worried that higher interest rates would reduce demand for non-yielding assets.