Asian markets fall

Monday, June 21, 2021

Asian stocks dropped on Monday after last week's surprise hawkish shift by the U.S. Federal Reserve reduced the allure of riskier assets, while the Treasury yield curve flattened further with 30-year yields dropping below 2 percent, Reuters reports.

Japan's Nikkei led declines with a 3.6 percent drop and dipped below 28,000 for the first time in a month, while MSCI's broadest index of Asia-Pacific shares outside Japan fell by 1.4 percent. Chinese blue chips lost 0.7 percent.

European stocks looked set to decline, with EuroSTOXX 50 futures down by 1 percent and FTSE futures off 0.7 percent.