Asia-Pacific markets were mixed after U.S. Federal Reserve Chairman Jerome Powell forecast more rate hikes this year, saying that “the process of getting back down to 2% has a long way to go.”
In Japan, the Nikkei 225 plunged 310.26 points, or 0.9%, to 33,264.88, dragged by electronic stocks.
Separately, crypto prices also surged in the last 24 hours, with bitcoin breaking above the $30,000 mark for the first time since April 26. Ether climbed to breach the $1,900 mark, its highest level since May 7.
In other markets
Markets in Hong Kong, Shanghai and Taiwan were shuttered for holiday.
In Korea, the Kospi Index recovered 11.07 points, or 0.4%, to 2,593.70.
In New Zealand, the NZX 50 lost 37.2 points, or 0.3%, to 11,739.05.
In Australia, ASX 200 dropped 119.42 points, or 1.6%, to 7,195.49.