Global stocks dip on Fed tightening, China prices

HONG KONG: Asian stocks posted losses on Monday as unease lingered over tightening monetary policy by the Federal Reserve (Fed) and rising prices in China.

The drop followed a negative lead from Wall Street. The S&P 500 and the Nasdaq retreated as the yield on the 10-year US Treasury note climbed above 2.7 percent — a signal that markets are preparing for more tightening as the Fed battles inflation.