Asian stocks today plunged the most in nine months as sharp rise in global bond yields prompted investors to take profit across stocks, bond and commodity markets.

Investors concern of heavy losses in stocks triggered distressed selling world-wide.

Japan’s NIKKEI-225 plunged four percent, Hong Kong’s Hang Seng tumbled 3.6 percent and South Korea’s KOSPI declined 2.8 percent.

China’s Shanghai Composite index fell 2.1 percent and Singapore Straits Times slipped 0.8 percent.

European shares were also down in intra-day trade. London’s FTSC-100 declined 1.2 percent, France’s CAC fell 0.9 percent and Germany’s DAX slipped 0.7 percent.