Asian stocks fall as investors await U.S. profits, inflation

Wall Street's benchmark S&P 500 index slid 1.7% on Monday as investors waited for a new round of corporate results to see how profits are affected by inflation that is at a four-decade high.

The Shanghai Composite Index slumped 0.7% to 3,146.11 and the Nikkei 225 in Tokyo lost 1.4% to 26,451.13. The Hang Seng in Hong Kong shed 0.8% to 21,037.19.Jakarta advanced while New Zealand and other Southeast Asia markets declined. Fed officials indicated in minutes from last month’s meeting they were considering raising the U.S. benchmark rate by double the normal amount at upcoming meetings. They also indicated they would shrink the Fed’s bond holdings, which would push up long-term borrowing rates.

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Asian stocks follow Wall Street down amid U.S. interest rate fearsAsian stock markets followed Wall Street lower Monday after the Federal Reserve indicated it might raise interest rates more aggressively to cool U.S. inflation.
Source: CTVNews - 🏆 1. / 99 Read more »

Asian stocks follow Wall Street down amid U.S. interest rate fearsAsian stock markets followed Wall Street lower Monday after the Federal Reserve indicated it might raise interest rates more aggressively to cool U.S. inflation.
Source: CTVNews - 🏆 1. / 99 Read more »