Asian stocks follow Wall St lower as rate hike worries grow

Wall Street's benchmark S&P 500 index plunged 3.6% on Thursday for its biggest one-day loss in two years as optimism that drove the previous day's rally evaporated.

"Clearly, investors had second thoughts about the so-called `dovish hike' from the Fed," Rob Carnell of ING said in a report. The likelihood is "rate hikes coming thick and fast, but little if any prospect of a turn in inflation any time soon." Russia's war on Ukraine, high oil prices and global supply chain disruptions are adding to investor unease.

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Asia stocks rise after Fed chair downplays bigger rate hikeAsian stock markets followed Wall Street higher on Thursday after the Federal Reserve chairman downplayed the likelihood of bigger rate hikes following the U.S. central bank's biggest increase in two decades.
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U.S. stocks slump as investors fear bigger Federal Reserve rate hikesAll three main Wall Street benchmarks erased gains made during a relief rally on Wednesday financialpost How is this a surprize? financialpost Buying opportunities
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