London — Stock markets struggled for direction on Friday as investors worried about a lack of detail in the US Federal Reserve’s policy shift while Japanese markets were roiled as Prime Minister Abe Shinzo resigned for health reasons.
“It’s not so much about what to do about inflation when it comes but about getting inflation above target. The challenge is to get inflation up to target and not very much was said about that,” said Colin Asher, a senior economist at Mizuho. Japanese shares dropped, with the Nikkei 225 down 1.4%. Abe resigned on Friday because of a chronic health condition, saying he would stay as prime minister until a new leader was appointed. There has been speculation about his health all week.
The yen, seen as a safe-haven currency to buy in times of uncertainty, jumped 0.4% to ¥106.12 per dollar.