Asian shares plummeted on Friday, mirroring a worldwide selloff sparked by hawkish remarks from Federal Reserve officials that dampened hopes of a U.S. interest rate cut in December. The MSCI index of Asian shares outside Japan dropped by 1.1% after U.S. stock markets saw their most significant fall in a month.

Treasuries retreated as investors adjusted their expectations for a Federal rate cut next month, which fell to 51% from 63% a day earlier. Chief economist Shane Oliver remarked on the vulnerability of shares due to tech stock valuations and the influence of seasonal factors.

While U.S. futures showed a minor uptick, Asian indices—Japan's Nikkei, Australia's shares, and South Korea's stock market—experienced significant losses. Investors are keenly anticipating key U.S. economic da

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