Asian stocks slumped, with the regional benchmark on track to enter a technical correction, as mounting worries over inflation and a resurgence in Covid-19 cases soured investor sentiment.
The MSCI Asia Pacific Index slumped as much as 1.5%, taking losses from a Feb. 17 peak to 10%, and wiping out all its gains for the year. Asian equities tracked losses in American shares after data on Wednesday showed U.S. consumer prices climbed in April by the most since 2009.
“We need to kind of price in a more normal interest-rate environment, more normal inflation environment,” said Ken Peng, head…
