Asian markets mixed as S&P 500 nears bear market, Biden set to unveil new Indo-Pacific trade pact

Investors were awaiting minutes from the latest policy setting meeting of the Federal Reserve and updates on consumer prices, due later this week.Investors were awaiting minutes from the latest policy setting meeting of the Federal Reserve and updates on consumer prices, due later this week.

The Nikkei 225 NIK in Tokyo gained 0.5%. President Joe Biden’s visit to Japan and South Korea was due to result in the launching of a U.S. initiative on economic cooperation and security. Hong Kong’s Hang Seng index HSI lost 1.3% while the Shanghai Composite index SHCOMP declined 0.4%. Stocks edged higher in Taiwan Y9999 , but fell in Singapore STI and Indonesia JAKIDX .

But analysts said the policy stance of the newly elected administration was not significantly different from the incumbent government and major changes were not expected. Many big tech stocks, seen as some of the most vulnerable to rising interest rates, have already fallen much more than 20% this year. That includes a 37.2% tumble for Tesla TSLA and a 69.1% nosedive for Netflix NFLX .

Goldman Sachs economists recently put the probabilty of a U.S. recession in the next two years at 35%.

Outstanding

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

S&P 500 fends off a bear market at the end of another brutal weekThe S&P 500 has tumbled more than 20% from its peak in January as mounting recession fears spook investors. Some good news. That every illegal the Biden Admin is allowing to cross our boarder right now, except for the terror cells, drug cartel and gang members; nearly every single one of them is pro-life and Christian. I miss the times of peace and prosperity under President Trump! Most of the economy is about employment income, and employment is up.
Source: CBSNews - 🏆 87. / 68 Read more »

Bitcoin ends week 'on the edge' as S&P 500 officially enters bear marketThe S&P 500 now meets the definition for a bear market while Bitcoin analysts caution over future BTC price losses. Why everybody is silent about this? 🍌 XMetaverse_ X-Metaverse is a blockchain game developed by Cocos3D and can run on Android, iOS and PC. All game content items and characters are based on blockchain tokens and NFTs. The visual effects and gameplay of X-Metaverse are inspired by StarCraft and Star Wars.
Source: Cointelegraph - 🏆 562. / 51 Read more »