Business Maverick: Stocks dip, dollar rises as Fed path stirs caution: markets wrap

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An Asian stock index dipped and the dollar climbed on Wednesday as investors assessed the likely pace of Federal Reserve monetary tightening and mounting signs of an economic slowdown.

In China, drought and power shortages are compounding challenges from a property crisis and Covid curbs.

Elsewhere, crude oil held gains near $94 a barrel, bolstered by shrinking US crude stockpiles and possible OPEC+ output cuts.US GDP, initial jobless claims, ThursdayECB’s July minutes, ThursdayUS personal income, PCE deflator, University of Michigan consumer sentiment, FridayS&P 500 futures dipped 0.3% as of 10:54 a.m. in Tokyo. The S&P 500 fell 0.2%Australia’s S&P/ASX 200 index rose 0.5%China’s Shanghai Composite index dropped 0.2%.The Japanese yen traded at 136.

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