Asian stocks, commodities in broad selloff on jitters over Cyprus deal
European markets are also expected to fall, with financial spread betters predicting London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX to open down as much as 2 percent. A 1.4 percent slide in U.S. stock futures suggested a lower Wall Street start as well.
Cyprus and international lenders agreed at the weekend that savers in the island's outsized banking system would take a hit in return for the offer of 10 billion euros ($13.07 billion) in aid, breaking with previous European Union practice that depositors' savings are sacrosanct and raising fears that it could set a precedent for future euro zone bailouts.
The MSCI's broadest index of Asia-Pacific shares outside Japan slumped 1.8 percent to its lowest level since Jan. 2. It was the steepest one-day fall since late July.
The materials sector led the decline with a 2.2 percent slide as London copper shed 1.8 percent to $7,610 a tonne. Resources-reliant Australian shares plunged 2 percent.
"What happened ... is best described as a precautionary sell-off by the markets, some profit taking and some lighting positions, in case this situation escalates," said Ric Spooner, chief market analyst at CMC Markets in Sydney.
"But it's too early to make that call, we have to see what happens from here. First step will be to see what Cyprus' parliament does. If they
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