Asian share markets slid on Monday 

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Asian share markets slid on Monday as a mounting risk of more aggressive rate hikes in the United States.

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Europe shoved bond yields and the dollar sharply higher while also stoking fears of a global recession.

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The moves came after U.S. Treasury yields vaulted to multi-year highs on Friday on data showing inflation running at the fastest pace in nearly 12 years. 

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Fanning fears that central banks would have to tighten monetary policy more aggressively than expected.

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That sent shockwaves through global markets, with European shares tumbling and Wall Street set for a weak open later in the day.

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"The big story is really this move in bond markets which has been so violently negative over the last few days," said Robert Carnell

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"That really is spilling over into risk markets more generally."

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MSCI's broadest index of Asia-Pacific shares outside Japan was down 1.1%, on track for its biggest one-day loss since late March. Australian shares were down 0.7%.

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South Korean shares shed 1.6% to a three-week low, with chipmakers leading the decline after their U.S. counterparts tumbled on Friday on concerns about higher rates and inflation

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