(Bloomberg) -- Shares in Asia headed for a sixth daily decline against the backdrop of worries about China and higher global interest rates.Most Read from BloombergChina Evergrande Group Files Chapter 15 Bankruptcy in New York‘Poor Man’s Cocaine’ Costing $3 a Pill Threatens to ProliferateGoldman Plans Hiring Spree to Fix Lapses After Increased Fed ScrutinyNiger Soldiers Killed in Attacks by Armed Group, Ecowas SaysGlobal Yields Reach 15-Year Highs as Rate-Hike Worries BuildA gauge of the region’
A gauge of the region’s equities fell and was on pace to close the week more than 3% lower. Equity benchmarks for Japan, Hong Kong and South Korea all fell, while mainland Chinese stocks fluctuated.
This week’s broad risk-off follows Wednesday’s publication of minutes from the last Federal Reserve meeting that suggested officials are considering tighter policy, slamming hopes that the central bank was done raising rates. US futures were broadly flat after the Nasdaq 100 notched its worst three-day slide since February. The S&P 500 fell 0.8%, also its third daily decline.The slump in stocks comes as investors must decide whether to roll over about $2.2 trillion of longer-dated options contracts tied to stocks and indexes that are scheduled to mature on Friday. That has led Goldman Sachs Group Inc. to warn that the activity is fueling the recent market selloff.
Data from before the US market opened showed the labor market remains healthy, doing little to change the narrative that more tightening from Fed officials may be in store. Investors will soon be turning to next week’s gathering of policymakers at Jackson Hole in Wyoming to gauge Fed sentiment.
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