The news came a day after lackluster factory data that stoked concerns that Fed officials may have held borrowing costs at more than two-decade highs too long.
The trigger? A US employment report that missed the mark so badly didn't just drop jaws it dropped stocks and bond yields while sending volatility and rate cut expectations through the roof.
He pointed out that the mood was already souring in Asia after a disappointing bath of earnings from tech titans such as Tesla and Alphabet as well as a rate hike by the Bank of Japan and more weak Chinese economic data.
The losses in New York were followed in Asia, with Tokyo's Nikkei tanking more than 7% at one point. The Nikkei was down around 6% in afternoon trading, while Taipei and Seoul were also heavily sold.
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