Asian markets on back foot on growing US rate, China worries

HONG KONG (AFP): Markets fell further Tuesday (Sept 26) as investors grew increasingly fearful about another possible US interest rate hike and the prospect they will be kept elevated for some time to combat persistent inflation.

A small bounce on Wall Street was brushed off in early Asian trade, with a spike in US Treasury yields to fresh 16-year highs pushing the dollar even higher and reviving worries the world's top economy could slip into recession.