Asian markets have tumbled on the tail of Wall Street’s worst monthly loss since the beginning of the pandemic. Tokyo skidded 2.3% and Australia’s benchmark sank 2.2%. Markets in Shanghai and Hong Kong were closed for holidays. The S&P 500 ended September down 4.8%, its first monthly drop since January and the biggest since March 2020. It’s still up 14.7% for the year. A quarterly survey by Japan’s central bank showed business sentiment improving as manufacturers looked ahead to a revival in demand after the government lifted a pandemic state of emergency. But supply chain disruptions are slowing the recovery.
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