ended the day down just 0.22%, having fallen by as much as 3.5% at one point. But this was its sixth straight day of declines and its longest losing streak since a nine-day stretch of losses in late October 2016.was down 0.2 basis points to 1.362%, off recent highs of around 1.4% but up from around 0.88% in late November.slipped 0.13% to 90.05 on Wednesday in Europe, as bond yields fell back.
Jeffrey Halley, senior market analyst at currency firm Oanda, said the drop in Asian stocks overnight was driven by concerns about further US pullbacks. "At the margins, more tech-heavy Asian markets have underperformed today following the Nasdaq price action overnight, rising inflation fears and a vaccine-led recovery reopening offices."
MUFG's Hardman said he thought"reassuring" comments from Powell should"help to ease some risk of a more disruptive outcome for financial markets in the near-term from a sharper move higher in yields."