"Market Jitters: Asian Stocks Plummet to 9-Month Lows Amid China and US Rate Concerns"

Asian stocks hit nine-month lows as concerns over China's economic recovery and potential interest rate hikes by the Federal Reserve rattled investors. MSCI's broadest index of Asia-Pacific shares outside Japan slid to its lowest level since November, down about 8% for August. European stocks are also expected to open lower. China's sluggish post-pandemic recovery and the deepening property sector crisis have added to the negative sentiment. Meanwhile, the dollar reached a two-month peak, while gold and oil prices dropped. The uncertainty surrounding interest rates has lifted Treasury yields, with the benchmark 10-year yield reaching its highest level since October.