Asian stocks sagged on Thursday, tracking declines on Wall Street, after the U.S. Federal Reserve projected higher interest rates for a longer period.
slumped 0.91%, after climbing as high as 160.37 in the previous session for the first time since late August.lost 0.61%, although e-Mini futures pointed to a slight 0.06% bounce for Thursday's reopen.
"This is a very hawkish signal from the Fed: a substantially higher terminal rate than back in September that also has a real upside risk attached to it," TD Securities analysts wrote in a client note. The 10-year Treasury yield slipped back below 3.5% in Tokyo trading, with the two-year yield also edging lower to under 4.24%.
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