Asian stocks tank after US data fans recession fears

Tokyo led a plunge across Asian equities Monday, while the yen hit a six-month high after weak US jobs data fanned fears of a recession in the world’s top economy and boosted bets on several Federal Reserve interest rate cuts.The yen — which just last month hit a nearly four-decade low close to 162 to the dollar — was also boosted by the Bank of Japan’s decision last week to hike interest rates for just the second time in 17 years and suggestion more could be on the way.Read More