Video

Asia stocks slid on Monday with investors worried about rising inflation and sluggish U.S. economic growth. Japan's benchmark Nikkei fell 2.3 percent (13,690) its biggest fall in six weeks. Shares outside Japan hit a one month low as investors worried a weak U.S. economy would dent demand for Asian exports such as TV screens and electronic gadgets. Telephone giant China Mobile was a top loser. Investment bank Goldman Sachs downgraded shares in the world's largest wireless carrier to "sell" after a sector wide restructuring plan announced by Chinese authorities to heighten competition. Korea's Samsung Electronics also tumbled. The world's second largest mobile phone maker was hurt by talk that competitor Nokia may cut prices and re-enter the South Korean market. Investors are waiting for data from both the euro zone and the United States later in the week. With oil prices up 38 percent so far this year, stock investors have been spooked by surging inflation. Consumers are also taking a hit from rising oil prices. Over the weekend, Indonesia's government jacked up fuel prices with other Asian countries also expected to follow suit. Tara Joseph-Hui reporting for Reuters. COMPANIES MENTIONED: