- Carey sparks recovery as Australia thrash England in 2nd ODI
- Leclerc, Sainz lament 'disappointing' Saturday in Singapore
- Bottega Veneta holds investors' aces as Madonna pops into D&G
- Beirut digs for victims at building flattened in Israeli strike
- Verstappen stages protest over 'ridiculous' swearing punishment
- Bayern boss Kompany lauds 'special talent' Olise
- Diaz fires Liverpool top of Premier League, Spurs bounce back
- Heavy fire over Israel-Lebanon border after deadly Beirut strike
- Ramos guides unbeaten Toulouse to Montpellier win despite Hogg scuffle
- Myanmar flood death toll jumps to 384
- Chelsea owners 'happy' with win at West Ham amid rift report
- Kane and Olise run riot as Bayern thump Bremen
- Ramos guides unbeaten Toulouse to Montpellier win
- Norris pips Verstappen to dramatic Singapore pole after Sainz crash
- Carey takes Australia to 270 in 2nd ODI against England after collapse
- Two Hezbollah leaders killed in Israel's Beirut strike
- Hungary Danube waters reach decade high after Storm Boris
- Bagnaia cuts Martin's MotoGP lead with Emilia-Romagna sprint win
- Jackson double fires Chelsea to victory at woeful West Ham
- Fiji beat Japan to lift Pacific Nations Cup
- Kasatkina to face Haddad Maia in Korea Open final
- S.Africa snowfall closes roads, strands motorists overnight
- Lawyers of women alleging Al-Fayed sex abuse receive over 150 new enquiries
- President Museveni's son backs Ugandan strongman for 7th term
- Norris quickest as Verstappen bounces back in Singapore practice
- Wallabies lament All Blacks' fast start
- Germany's Oktoberfest opens under tight security after attacks
- Environmental protesters block French cruise liner port
- Hezbollah in disarray after Israeli strike kills top commanders
- No place like home: Biden hosts 'Quad' leaders
- One dead, 7 missing as heavy rains trigger floods in central Japan
- Zelensky says no UK, US go-ahead to use long-range missiles
- New Zealand edge Australia 31-28 in Bledisloe Cup thriller
- Japan orders evacuations as heavy rains trigger floods in quake-hit area
- New Zealand pilot freed in Indonesia after 19 months in rebel captivity
- Hezbollah in disarray after Israeli air strike kills top commanders
- Leading climate activist released from Vietnam jail
- Ethiopians struggle with bitter pill of currency reform
- Sri Lanka votes in first poll since economic collapse
- Feminist author warns of abortion disaster if Trump wins US election
- US city of Flint still reeling from water crisis, 10 years on
- Arsenal's mean defence faces acid test to shut out Man City again
- Late surge lifts Thailand's Jeeno to LPGA Queen City lead
- DeChambeau says PGA's Ryder Cup decision 'just the start'
- Alcaraz defeated on Laver Cup debut
- Postecoglou embraces 'struggle' to make Spurs a success
- Nice hand 'ashamed' Saint-Etienne 8-0 Ligue 1 mauling
- Boeing CEO says ending strike 'a top priority'
- Stock markets mostly fall after Fed-fueled rally
- Harris slams Trump for hypocrisy on abortion as US starts voting
Global stocks dip on Fed tightening, China prices
Asian stocks posted losses on Monday as unease lingered over tightening monetary policy by the Fed and rising prices in China.
The drop followed a negative lead from Wall Street. The S&P 500 and the Nasdaq retreated as the yield on the 10-year US Treasury note climbed above 2.7 percent -- a signal markets are preparing for more tightening as the Federal Reserve battles inflation.
In Tokyo, the Nikkei closed 0.6 percent lower, while Hong Kong and Shanghai lost more than three percent and two percent respectively.
Taipei and Seoul were also down, while Sydney and Jakarta posted slight gains.
In early European trade, the Paris CAC 40 shed 0.6 percent and Frankfurt's DAX slid 1.2 percent. London's FTSE 100 index slid 0.6 percent on news that the UK economy had ground to a near halt.
"Stocks are soft at the Monday (Asian) open on increasing evidence the Federal Reserve will take a more committed approach to its monetary policy inflation-fighting stance," said Stephen Innes at SPI Asset Management.
"However, markets have been surprisingly resilient as discussions under the surface debated whether this week's US March CPI data will hint at the peak of the inflation cycle and help the Fed's chance to better engineer a soft landing, however narrow that path may seem."
The US central bank has recently taken a hawkish tone as it embarks on an aggressive tightening path, prompting traders to fret over the prospect of higher interest rates.
"Today, the mantra for many investors is 'Don't fight the Fed when it is fighting inflation'," Ed Yardeni, president of Yardeni Research, wrote in a note.
In China, factory-gate inflation was higher than expected in March, official data showed, as Russia's war on Ukraine pushes up oil prices while a domestic Covid-19 resurgence strains food supplies and consumer costs.
The producer price index -- measuring the cost of goods at the factory gate -- grew 8.3 percent on-year, National Bureau of Statistics (NBS) figures showed.
"It is China's Covid situation that is making Asia nervous," said Jeffrey Halley, senior market analyst with OANDA. "The weekend press was full of stories of locked down Shanghai residents unable to secure food supplies, with cases rising to 27,000 yesterday."
"With China's government doggedly sticking to its Covid-zero policy, fears are increasing that an extended lockdown in China, which may spread to other major industrial cities will darken an already cloudy outlook for China's growth."
- Indonesia's GoTo soars on debut -
In Jakarta, Indonesia's biggest tech firm soared on its debut after a billion-dollar IPO -- the world's fifth-biggest this year.
GoTo's shares jumped by up to 23 percent in initial trading and hovered around 15 percent at 388 rupiah during the session.
"Despite global market volatility, investor interest has been strong, reflecting the rapidly growing demand in Southeast Asia for our on-demand, e-commerce and financial technology services, as well as confidence in GoTo's position as the largest digital ecosystem in Indonesia," CEO Andre Soelistyo said in a press release.
The euro climbed against the dollar over the course of the day, suggesting some relief over the French election.
Investors had fretted about the implications of a victory for President Emmanuel Macron's nationalist rival Marine Le Pen in the midst of the war in Ukraine, given her long-standing sympathies for Russia.
Macron was set to beat Le Pen in the first round of elections Sunday by a larger-than-expected margin, the two candidates advancing to a run-off later this month.
"Make no mistake: nothing is decided," Macron told supporters.
- Key figures around 0810 GMT -
Tokyo - Nikkei 225: DOWN 0.61 percent at 26,821.52 (close)
Hong Kong - Hang Seng Index: DOWN 3.03 percent at 21,208.30 (close)
Shanghai - Composite: DOWN 2.61 percent at 3,167.13 (close)
Brent North Sea crude: DOWN 1.61 percent at $101.05 per barrel
West Texas Intermediate: DOWN 1.91 percent at $96.38 per barrel
Euro/dollar: UP at $1.0882 from $1.0877
Pound/dollar: DOWN at $1.3002 from $1.3025
Euro/pound: UP at 83.69 pence from 83.51 pence
Dollar/yen: UP at 125.35 yen from 124.34 yen
New York - Dow: UP 0.4 percent at 34,721.12 (close)
-- Bloomberg News contributed to this report --
O.Krause--BTB