Asian Stocks Slide as KOSPI Tumbles 4%, Dollar Eases and Gold Hits $4,080
MSCI’s Asian equities gauge fell 1% and South Korea’s KOSPI lost over 4% after a record jump, while the dollar eased and Treasuries rallied, pushing gold to around $4,080 an ounce.
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Asian equity markets declined broadly, with the MSCI Asia gauge falling 1%. South Korea’s KOSPI slumped more than 4%, coming off a record 18% surge on July 31.
The dollar slipped 0.2% against a basket of currencies, while Treasuries advanced. The benchmark 10-year yield dropped four basis points, reflecting safe-haven demand.
Gold extended its gains, rising to approximately $4,080 per ounce as investors sought safety amid the equity sell-off.
Source: First Squawk