Ukraine Conflict, China Tech Woes Extend Pain to Asia Stocks

(Bloomberg) — Asian equities slid for a third day as escalating tensions over Ukraine and fresh regulatory scrutiny on China’s tech sector frazzled investors’ nerves.

The MSCI Asia Pacific Index tumbled as much as 2.1% to a three-week low, after Russian President Vladimir Putin recognized two self-proclaimed separatist republics in eastern Ukraine and ordered to send what he called “peacekeeping forces” to the regions. The U.S. administration has warned Russia’s troop buildup near Ukraine signals a possible invasion, something the Kremlin has repeatedly denied.