Shares in Asia plunged on Monday, tracking a sharp drop in US stock futures, on mounting fears of more hawkish stance from the Fed following a higher-than-expected May’s inflation data. Stocks in Japan and Hong Kong sank by 2.8%, each; while the Shanghai Composite slid over 1% after China warned of a rapid COVID spread in Beijing city and planned to conduct mass testing. Markets in Australia were closed for a holiday.
