The MSCI Asia Pacific Index dropped by the most since Britain’s June vote to leave the European Union, while futures foreshadowed slides in European and U.S. equities. The MSCI Asia Pacific Index tumbled 2 percent, led by losses in raw-materials producers.
Japanese stocks posted their biggest decline in more than a month on Monday after comments by U.S. Federal Reserve officials sparked fears of a rate hike as soon as next week, weighing on shares and other risk assets globally.
The Nikkei share average fell 1.7 percent to 16,672.92 points, its lowest closing level since Aug. 26. It was the largest daily percentage drop since early August.
China's blue chip stocks tumbled the most in three months on Monday, tracking a sharp retreat in global markets as investors were spooked by talk of a possible U.S. rate hike next week, sending bond yields up and pressuring the Chinese currency.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 1.7 percent, to 3,262.60, posting its biggest percentage loss since June 13.
The Shanghai Composite Index lost 1.8 percent to 3,021.98 points, booking the worst day since July 27.
Reference: Bloomberg, Reuters
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