Asian markets mixed after Dow falls into bear market

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Stocks were mixed in Asia on Tuesday after closing broadly lower on Wall Street, where the Dow Jones Industrial Average fell into what’s known as a bear market.

The week started out with a bout of selling amid an extended slump for many markets. The benchmark S&P 500 is down more than 7% in September.The week started out with a bout of selling amid an extended slump for many markets. The benchmark S&P 500 is down more than 7% in September.

Investors have been particularly focusing on the Federal Reserve and its aggressive interest rate hikes. But volatility in currency markets has further roiled markets in recent days. The pound was at $1.0765, up from $1.0686 late Monday. The dollar bought 144.49 yen, down from 144.65 yen, and the euro rose to 96.29 cents from 96.10 cents.

The latest consumer confidence report, for September, from the business group The Conference Board will be released on Tuesday. The government will release its weekly report on unemployment benefits on Thursday, along with an updated report on second-quarter gross domestic product.

 

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