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After Powell’s Jackson speech Japan’s Nikkei Fallen sharply

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Asia-Pacific region traded lower on Monday.

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The U.S. economy will suffer "some pain," he said, adding that higher interest rates are likely to last "for some time."

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In Japan, the Topix index fell 2.06% while the Nikkei 225 fell 2.9%. The Kosdaq index sank 3%

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Kospi fell 2.39 % in South Korea.

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The S&P/ASX 200 in Australia decreased by 2%.

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Mainland Shanghai Composite and Shenzhen Component in China both fell by 0.72% and 0.68%, respectively.

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The Hang Seng index in Hong Kong lost 1.07%, and the Hang Seng Tech index lost 1.43%.

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The Japanese yen traded at 138.47 to the dollar.

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while MSCI's largest index of Asia-Pacific shares outside of Japan fell 1.83%.