Asian stock markets fell Wednesday after U.S. inflation edged down less than expected, fueling concern the Federal Reserve might think more interest rate...
BEIJING — Asian stock markets fell Wednesday after U.S. inflation edged down less than expected, fueling concern the Federal Reserve might think more interest rate hikes are needed.Wall Street ended mixed Tuesday after inflation slowed to 6.4% in January from the previous... BEIJING — Asian stock markets fell Wednesday after U.S. inflation edged down less than expected, fueling concern the Federal Reserve might think more interest rate hikes are needed.
The Shanghai Composite Index SHCOMP lost 0.3% to 3,282.60 and the Nikkei 225 NIK in Tokyo gave up 0.4% to 27,501. The Hang Seng HSI in Hong Kong tumbled 1.6% to 20,766.52. Stock prices have swung between gains and losses over the past year as traders try to figure out how far the Fed and other central banks will go to extinguish surging inflation. Some worry they might be willing to tip the global economy into a recession.
The market’s expectations for the Fed have been driving yields higher in the bond market in particular. The two-year Treasury has shot to its highest level since November, egged on last week by a stronger-than-expected report on the U.S. jobs market.
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