Asian stocks slide as rising yields batter tech, Fed chair awaited

Investing.com-- Most Asian stocks tumbled on Thursday, with technology-heavy indexes bearing heavy losses tracking a spike in bond yields, while anticipation of a speech from Federal Reserve Chair Jerome Powell also kept investors on edge., with heavyweight technology stocks under pressure as a rout in global bonds pushed up yields. This was exacerbated by Fed officials reiterating plans to keep interest rates higher for longer.

Concerns over an escalation in the Israel-Hamas war also kept sentiment on edge, especially after a deadly strike on a Gaza hospital. Fears that the conflict will spill over into other Middle Eastern countries had been a major weight on sentiment over the past week.severely lagged its peers, sinking 2.1%.

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