Asian indices were a sea of red on Wednesday after Wall Street closed lower overnight amid rising expectations that the Federal Reserve could raise interest rates sooner rather than later.
U.S. shares tumbled on Tuesday, taking their cues from rising Treasury yields overseas and domestically, after fresh research from the San Francisco Fed suggested that investors’ expectations for rate hikes lag those of the Fed. The Dow Jones Industrial Average ended down 0.6 percent while the S&P 500 fell 0.7 percent. The Nasdaq lost 0.9 percent.
In Asia, focus will likely be on the World Economic Forum in Tianjin, China starting Wednesday. The theme will be “Creating Value Through Innovation.”