Tue, 09 Aug 2022

SYDNEY, NSW, Australia - Stocks were sold off in Australia on Monday as rising fears of inflation, and concerns over renewed surges of Covod-19, particularly the Delta variant, unsettled markets.

The safe-haven U.S. Dollar benefited from the concerns.

The Hang Seng in Hong Kong tumbled 514.90 points or 1.84 percent Monday, to close at 27,489.78.

In Japan, the Nikkei 225 plummeted 350.34 points or 1.25 percent to 27,652.74.

The Australian All Ordinaries shed 71.00 points or 0.93 percent to 7,559.70.

China's Shanghai Composite finished flat, down just 0.18 of a point or 0.01 percent at 3,539.12.

The euro fell sharply to 1.1784 by the Sydney close Monday. The British pound slumped to 1.3716. The Swiss franc eased to 0.9207.

The Canadian dollar was sharply lower at 1.2706. The Australian dollar sank to 0.7365. The New Zealand dollar dived to 0.6975.

The Japanese yen, reflecting its safe-haven status advanced to 109.86.

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