Asian shares retreated Friday after strong reports on the U.S. economy raised the possibility of interest rates staying painfully high.Japan’s Nikkei 225 index lost 1.2% to 38,646.11 and the Hang Seng in Hong Kong fell 1.5% to 18,589.89.
Treasury yields cranked up the pressure following the stronger-than-expected reports on the U.S. economy, which forced traders to rethink bets about when the Federal Reserve could offer relief to financial markets through lower interest rates. The Fed is trying to pull off the difficult feat of slowing the economy enough through high rates to get inflation back to 2% but not so much that it forces a painful recession. It’s been holding its main interest rate at the highest level in more than two decades to do so, and Wall Street is itching for some easing.
The sharpest single drop within the S&P 500 came from Live Nation Entertainment, which tumbled 7.8% after the Justice Department accused it and its Ticketmaster business of running an illegal monopoly over live events in the country. Nvidia also increased its dividend as its CEO, Jensen Huang, touted how “the next industrial revolution has begun.”
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Stock market today: Asian shares track Wall Streets rally, led by a 2.4% jump in TokyoAsian shares have tracked Wall Street's rally, led by a 2.4% advance for Tokyo's benchmark Nikkei 225 index.
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Stock market today: Asian shares track Wall Streets rally, led by a 2.4% jump in TokyoAsian shares have tracked Wall Street's rally, led by a 2.4% advance for Tokyo's benchmark Nikkei 225 index.
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Stock market today: Asian shares track Wall Street's slide on worries over interest ratesAsian shares have retreated after strong reports on the U.S. economy raised the possibility that interest rates may stay painfully high. U.S. futures edged higher and oil prices also rose. On Thursday, the S&P 500 fell 0.7% and pulled further from its record set earlier this week.
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Stock market today: Asian shares track Wall Street’s slide on worries over interest ratesAsian shares are mostly lower after a retreat on Wall Street following strong economic reports that raised the possibility of interest rates staying painfully high. U.S. futures edged higher and oi…
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Stock market today: Asian shares are mixed, with China stocks down, after Wall St retreatAsian shares are trading mixed, as investor sentiment in Tokyo was boosted by news in the U.S. about soaring Nvidia earnings. Benchmarks rose in Tokyo and Seoul, but fell in Australia and China. On Wednesday, U.S. stock indexes pulled back from their records as concerns about high interest rates weighed on the market. The S&P 500 fell 0.
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Stock market today: Asian shares edge lower after Wall Street sets more recordsAsian markets are mostly lower after U.S. stocks hit new record highs.
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