In a whirlwind of market movements and economic announcements, major Asian stock markets took a tumble on Monday, following the footsteps of Wall Street's worst week since Halloween. As U.S. futures dipped lower, despite Congressional leaders reaching an agreement on spending levels to avert a government shutdown, investors found themselves frowning at the prospect of volatility ahead.
Adding fuel to the fire, oil prices plummeted after Saudi Arabia decided to slash oil prices to Asian markets, marking a 27-month low. The news hit the markets hard, with Hong Kong's Hang Seng index plummeting 1.9%, driven by a 2.4% drop in technology shares. Similarly, the Shanghai Composite index slipped by 1.2%, further exacerbating the market's unease.
