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Asia Stocks to Fall After Wall Street Tech Slump: Markets Wrap

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Asian stocks were poised to follow Wall Street shares lower after the latest evidence of stubborn US inflation spurred bets the Federal Reserve will be in no rush to cut rates.

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Asia Stocks to Fall After Wall Street Tech Slump: Markets Wrap(Bloomberg) -- Asian stocks were poised to follow Wall Street shares lower after the latest evidence of stubborn US inflation spurred bets the Federal...
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Stocks in Asia Set to Follow Wall Street Lower on Rate SpeculationStocks in Asia are expected to decline following Wall Street's lead as speculation grows that major central banks will maintain higher interest rates for a longer period. Economic data and a rally in commodities have contributed to this speculation. The opening of equities in Australia was down, while futures indicated declines in Japan and little change in Hong Kong. Skepticism about the pace of Federal Reserve easing has increased due to better-than-estimated data on US job openings and factory goods orders. This has led traders to project fewer rate cuts in 2024, causing 10-year yields to reach their highest levels since November. The repricing of central-bank bets, which had been ignored by US stocks during a recent rally, has now weighed on the market.
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Stock market today: Stocks go nowhere as Wall Street waits for inflation printInvestors regrouped for a packed week with a fresh inflation data test for rate-cut views and the start of first quarter earnings season.
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