Asia stock markets drop sharply after US fallsMajor Asian markets suffered sharp losses on Friday, following another day of steep falls on Wall Street. Those losses came as little surprise, with moves in major US markets providing the cue for global investors. The bank left interest rates at 0.5% at its meeting, but said a strengthening economy meant interest rates were likely to rise sooner than the markets were expecting. Higher interest rates push up borrowing costs for companies and individuals, which can hurt corporate profits and curb economic activity. The chaotic week on global markets also comes as several markets around the world sit on, or near record highs.