Asian stocks fell, extending the biggest monthly drop since May 2012, as investors weighed comments from a weekend meeting of monetary policy makers.
The MSCI Asia Pacific Index declined 0.6 percent to 130.26 as of 9:06 a.m. in Tokyo, on course to slide 8.3 percent in August. Futures on the Standard & Poor’s 500 Index retreated 1.1 percent.
There’s good reason to believe inflation will move higher, Federal Reserve Vice Chairman Stanley Fischer told delegates at the Kansas City Federal Reserve’s annual retreat in Jackson Hole, Wyoming. While Fischer was careful to say that he wasn’t signaling an impending rate increase, the remarks suggest the Federal Open Market Committee hasn’t ruled out a move when it gathers in Washington Sept. 16-17.
Source : Bloomberg