Asia markets extend losses after Powell's comments; Japan inflation slows

This is CNBC's live blog covering Asia-Pacific markets.inflation was still too high and would likely require lower economic growth. The benchmark U.S. 10-year Treasury yield also crossed 5%{The 10-year Treasury yield hit 5.001% at 5:02 p.m. ET, the first time it has traded above that key level since July 20, 2007 when it yielded as high as 5.029%.While he noted that recent data showed progress toward slowing prices, Powell also added that monetary policy was not yet too tight.

The People's Bank of China kept its one-year loan prime rate — the peg for most household and corporate loans in China — unchanged at 3.45%. The five-year benchmark loan rate — the peg for most mortgages — was held at 4.2%, according to Core inflation — which strips out prices of fresh food — also slowed to 2.8%, down from 3.1% in August.

A death cross is a price chart pattern that forms when a stock's 50-day moving average crosses below its 200-day moving average. Technical analysts view this as a sign that investors are bearish on a stock or that a stock's momentum is weakening and will continue to decline, with a potential buying opportunity soon. The death cross is also used as a bear market predictor.

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