That $4.3 trn wipeout in Asian stocks is getting deeper as dollar soars

It was looking like a week of wound-licking for Asian stocks. Then crude oil entered a bear market and alarm bells rang on China’s slowdown as tech stocks plunged.

Just like that, the region’s equity benchmark erased weekly gains and posted its sixth slide in seven weeks. The MSCI Asia Pacific Index slumped 1.2 percent Friday, worsening the wipeout that already erased $4.3 trillion of market value this year.

It’s anyone’s guess how regional stock markets will do on Monday but it isn’t looking good right now: the S&P 500 Index dropped 0.9 percent Friday and futures contracts on the Nikkei 225