TOKYO -- Asia's stock markets tumbled on Thursday as global inflation started to hurt corporate earnings, spurring fears of stagflation -- inflation combined with stagnation of economic output.
Japan's blue-chip Nikkei Stock Average dropped over 760 points, or 3%, at one point before closing down 1.9% at 26,402. South Korea's Kospi fell 1.3%. Hong Kong's Hang Seng Index was down 3.5% intraday.
