Asia markets suffer rough Monday amid fears of US rate hike

04:07

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Asia Pacific

Asia markets suffer rough Monday amid fears of US rate hike

Markets in Asia took a tumble on Monday, amid fears that the US Federal Reserve could raise interest rates again at its meeting next week. Japan's Nikkei fell by nearly half a percent and China's Hang Seng Index dipped by 1.5 percent on investor jitters. They fear that low unemployment and other indicators of strong spending could either delay rate cuts or extend higher rates for longer. The caution comes as key data reflecting inflation is due out on Wednesday, and Federal Reserve Chairman Jerome Powell's promise to steer rates given future data.