Shares fell in Asia on Wednesday after Wall Street declined on fears the Federal Reserve will need to keep the brakes on the economy to get inflation under...
Shares fell in Asia on Wednesday after Wall Street declined on fears the Federal Reserve will need to keep the brakes on the economy to get inflation under control, risking a sharp recession. Oil prices were mixed.
Tokyo’s Nikkei 225 index NIK slipped 0.6% and the Kospi 180721 in Seoul gave up 0.2%. Hong Kong’s Hang Seng index HSI gained 0.2% while the Shanghai Composite SHCOMP lost 0.4%. Australia’s S&P/ASX 200 XJO dropped 0.6%. Stocks also fell in Singapore STI , Taiwan Y9999 and Indonesia JAKIDX . On Tuesday, the S&P 500 SPX fell 1.4%, its fourth straight loss, to 3,941.26 and the tech-heavy Nasdaq COMP sank 2%, to 11,014.89. The Dow Jones Industrial Average DJIA lost 1% to 33,596.34.The broader market’s dip comes a day after stocks pulled back as stronger-than-expected readings on the economy raised worries that the Fed has a ways to go in getting inflation under control. The Fed is doing that by intentionally slowing the economy with higher interest rates.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian shares lower as strong data hit hopes for dovish FedStocks are mostly lower in Asia after Wall Street pulled back as surprisingly strong economic reports highlighted the difficulty of the Federal Reserve’s fight against inflation
Read more »
Asia markets set to fall amid recession fears; China to report trade dataAsia-Pacific shares are poised to slip on Wednesday after major U.S. indexes fell more than 1% each overnight on concerns about a recession weigh on markets.
Read more »
Asian Stock Market: China soars on easing Covid curbs, oil loses strengthMarkets in the Asian domain are displaying mixed responses as the risk impulse is turning precautionary ahead of US ISM Services PMI data. S&P500 futu
Read more »
Tesla shares sink amid China production slowdown rumorsShares of Tesla fell on Monday after a report hinted at a 20% decrease in Model Y production at the electric automaker's facility in Shanghai, China's largest city.
Read more »
Rep. Ted Lieu reflects on becoming the highest-ranking Asian American ever in House Democratic leadership“It’s actually more of a recognition by my colleagues of the growing importance of the Asian American Native Hawaiian and Pacific Islander communities,” Rep. Lieu said.
Read more »
First Mover Asia: Bitcoin Holds Its $17K Perch Amid Rate Hike ConcernsAsia is ready for a scaled up, crypto-friendly bank, particularly if the U.S. oversteps in regulating the industry following the recent FTX debacle; bitcoin holds for another day over $17K. TheSamReynolds and JPRubin23 report
Read more »