Asian stocks slump to 11-mth lows as higher-for-longer rate fears persist

FILE PHOTO: A woman walks past a man examining an electronic board showing Japan’s Nikkei average and stock quotations in Tokyo By Xie Yu HONG KONG (Reuters) – Asian stocks slid to 11-month lows on Wednesday, U.S. futures dropped and the dollar surged as Treasury yields spiked back toward peaks on fears that U.S. interest rates will stay high. A rebound in U.S. home sales was the latest trigger for concern in the bond market. Corporate earnings have also been mixed. Alphabet shares logged their worst session since March 2020 overnight, dropping 9.5% as investors were disappointed with stalling growth…