Asian Stocks Slide as China Growth Concerns Weigh on Markets

European bonds rallied after a European Central Bank (ECB) official suggested that the end of the rate-hiking cycle may be approaching. Yields on Italian and German debt dropped, with the yield on 10-year German securities reaching a two-week low. Equities also rebounded, led by media and leisure companies. The dovish talk among central bankers and the possibility of a slowdown in inflation have prompted speculation that the pace of interest rate hikes may slow down. Meanwhile, concerns about China's economic recovery and the US Federal Reserve's monetary policy decisions continue to impact market sentiment.