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Federal Reserve

Asian market sell-off picks up pace, Shanghai tumbles

HONG KONG: Asian markets fell on Monday, extending last week’s sell-off as another strong US jobs reading further fanned expectations the Federal Reserve will hike interest rates at a quicker pace. Shanghai led the retreat as mainland investors returned from a week-long break, during which time China was accused of using microchips in computer equipment sold in the US as part of a drive to steal technology secrets. The losses in China also came despite a cut in the amount of cash the country’s commercial banks must…