South Korea's KOSDAQ index fell 7.2%.

IMF: US monetary policy tightening and fiscal strains in advanced economies could continue to exert upward pressure on Asian bond yields.

US September CPI rose 3.7% YoY (vs 3.6% expected) and 0.6% MoM, in line with forecasts. Core CPI ex-food and energy rose 0.3% MoM and 2.6% YoY. Energy prices jumped 5.2% in September and are up 20.4% YTD; gasoline rose 9.1% in September and 34.2% YoY. Higher fuel costs, attributed to the ongoing Iran conflict, pushed airfares up 1.2% in September and 22.4% YTD. This was the last US inflation print before the midterm elections. Treasuries sold off, with front-end yields rising most as markets repriced near-term rate expectations.