Asian stocks tumbled on Wednesday as U.S. data dashed hopes for an immediate peak in inflation, although the dollar paused its relentless run against the yen as Japan gave its strongest signal yet it was unhappy with the currency's sharp declines.
After a heavy equity selloff overnight, both the S&P 500 futures and Nasdaq futures rose 0.2%.
"While resilient growth and slowing inflation can make for a better risk taking environment, the U.S. economy now looks too hot still. With no clear signs of the labour market slowing and inflation still problematic, a downshift from the Fed looks set to be delayed again." Earlier in the day, Japanese Finance Minister Shunichi Suzuki said that currency intervention was among options the government would consider.Many traders remained doubtful that intervention was imminent, but the jump in the yen pointed to rising nerves. The timing of the BOJ's move also suggests that 145 per dollar will be an important level for markets and the authorities.
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 fall, tracking Wall St dismay over price dataAsian markets skidded lower after Wall Street fell the most since June 2020 as a report showed inflation has kept a surprisingly strong grip on the U.S. economy. The data has traders bracing for the Federal Reserve to aggressively raise interest rates.
Read more »
Asian markets dive lower after Wall Street slammed by inflation dataAsian markets skidded lower on Wednesday after Wall Street fell the most since June 2020 as a report showed inflation has kept a surprisingly strong grip on...
Read more »
Asian markets open lower after price data slam Wall StreetAsian markets have skidded lower after Wall Street fell the most since June 2020 as a report showed inflation has kept a surprisingly strong grip on the U.S. economy
Read more »
Texas A&M diversity policies discriminate against white, Asian men - lawsuitTexas A&M University has been hit with a proposed class action claiming its employment policies unlawfully discriminate against white and Asian men.
Read more »
Make two budget-friendly and healthy Asian-inspired dinners in under 30 minutesShort on time? Go big on flavor with these quick, healthy recipes.
Read more »