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Charted: the billions wiped out in Asian markets today

Following a massive rout in US markets overnight, Asian markets—many of which had recently hit record highs—are doing just the same today (Feb. 6).

Investors in the US sold off stocks over fears of rising bond yields and the prospect of higher interest rates.

Japan’s benchmark Nikkei 225 index fell as much as 6% during the day, and has erased its gains for 2018.

Hong Kong’s Hang Seng Index plunged 5% by midday local time.

Australia’s benchmark ASX 200 Index closed down 3.2%, and according to local broadcaster ABC, local indices have lost some A$90 billion ($71 billion) over the past two days of trading.

Taiwan’s Taiex plummeted by about 5%…

…while South Korea’s benchmark Kospi index dropped about 2.5%, marking the largest one-day drop since Brexit.

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