Futures for benchmarks in Australia and Japan declined, while a gauge for US-listed Chinese stocks fell for a fourth straight session. Big tech led losses on Wall Street, with the Nasdaq 100 down 1.5% and S&P 500 dropping almost 1%. Treasury two-year yields, which are more sensitive to imminent Fed moves, hit the highest since 2006. Contracts for US equities were flat in early Asian trading.
In light of the still strong economic data, the hawkish pause and threat of a hike should not be a surprise, according to Seema Shah, chief global strategist at Principal Asset Management. Central banks will be in focus Thursday as well, with officials in the Philippines, Indonesia and the UK set to announce policy decisions. Bangko Sentral ng Pilipinas is likely to lift rates by a quarter point, while Indonesian policymakers are seen keeping rates on hold, according Bloomberg Economics.
Marketing and data automation provider Klaviyo Inc. climbed 9.2% in its trading debut after topping its goal to raise $576 million in an initial public offering that could set the pace for listings by other startups.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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.
Asia Stocks Face Headwinds From Wall Street Slide: Markets Wrap(Bloomberg) -- Equity markets in Asia are likely to face selling pressure as worsening risk sentiment drove US stocks to session lows after the Federal Reserve signaled interest rates will be higher for longer. Most Read from BloombergVegas’ Newest Resort Is a $3.7 Billion Palace, 23 Years in the MakingFed Set to Pause Rate Hikes, But Don’t Count Out Another IncreaseTrudeau’s Murder Claim Risks Upending US Courtship of IndiaStocks Fall as Yields Rise on Fed’s ‘Hawkish Skip’: Markets WrapDollar R
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Asia Stocks Face Mixed Open With Focus on Rates: Markets Wrap(Bloomberg) -- Asian stocks are poised for a mixed opening, reflecting Wall Street’s cautious start to a week with rate decisions by major central banks that will likely set the tone for global markets for the rest of the year.Most Read from BloombergHow Auto Executives Misread the UAW Ahead of Historic StrikeVegas’ Newest Resort Is a $3.7 Billion Palace, 23 Years in the MakingUS Marines Pause Flights as the Search Continues for Lost F-35Trillion-Dollar Industry Powering Chicago at Risk of Leavi
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Asia stocks slide amid China woes, Japan catches up on chip sell-offAsian shares sank on Tuesday, as worries about the Chinese property sector weighed on markets from Hong Kong to Australia, while Japanese investors sold chip stocks on their return from a holiday-extended weekend. Benchmark U.S. Treasury yields hovered near 16-year peaks and the dollar held close to six-month highs as traders braced for a Federal Reserve rate decision on Wednesday, in a week that also sees policy decisions from the Bank of Japan and Bank of England, among others. Japan's Nikkei tumbled 1.1% under the weight of big losses for chip-related stocks including Tokyo Electron and Advantest.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Asia stocks slide amid China woes, Japan catches up on chip sell-offBy Kevin Buckland TOKYO (Reuters) - Asian shares sank on Tuesday, as worries about the Chinese property sector weighed on markets from Hong Kong to ...
Source: SaltWire Network - 🏆 45. / 63 Read more »
Asia Stocks Set for Cautious Start as Fed in Focus: Markets WrapEquity markets in Asia are poised for a muted open after US stocks posted modest losses ahead of the Federal Reserve’s policy decision, with traders betting interest rates will be higher for longer to curb inflation.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Latest BoC Rate Pause Comes Amid ‘Stiffer Headwinds’ For Housing MarketThe Bank of Canada opted to hold its policy rate steady at 5% earlier this month, but one economist is warning that September’s rate pause probably won’t do much for housing market recovery in the near term. “We all know that it’s hard to keep this market down, but the headwinds are stiffer than the...
Source: storeyspub - 🏆 16. / 74 Read more »