"China's Economic Troubles and Rising U.S. Inflation Send Asian Stocks Plummeting"

Asian stocks, particularly Chinese indexes, faced losses due to concerns over China's economic growth and fears of a more hawkish Federal Reserve following higher-than-expected U.S. inflation readings. Chinese property stocks were hit hard after Country Garden warned of a massive loss and potential default, adding to the headwinds facing China's economy. Tech stocks also suffered as investors worried about rising interest rates. Indian stocks were set for a weak open as investors awaited inflation data, with consumer inflation expected to have increased due to higher food prices.