Asian markets tumble on Wall street rout, pound slumps

Global markets have been battered this year by a series of crises including surging inflation, rising interest rates, China's economic slowdown and the war in Ukraine.

The Nasdaq -- dominated by tech firms particularly sensitive to higher rates -- lost five per cent, while the Dow and S&P 500 fell more than three per cent. The remarks come a week after the Australian Chamber of Commerce recommended that Hong Kong follow the lead of Singapore or Japan by lowering quarantine requirements for business travellers.

Various districts in Beijing told residents on Thursday to work from home, while Shanghai, the biggest city in the country, remains essentially shut down.

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