Asian benchmarks decline after bear market hits Wall Street

TOKYO — — Asian shares fell across the board Tuesday after Wall Street tumbled into, indicating that major U.S. benchmarks and individual stocks have fallen 20% or more from a recent high for a sustained period of time.

Some economists are speculating the Fed on Wednesday may raise its key rate by three-quarters of a percentage point. That’s triple the usual amount and something the Fed hasn’t done since 1994. Adding to worries about the fragile Japanese economy is the sliding yen, recently at 135, the lowest level against the U.S. dollar since 1998. The U.S. dollar fell to 134.40 Japanese yen from 134.46 yen, as the yen's weakness was mitigated somewhat by Bank of Japan Gov. Haruhiko Kuroda's comments expressing concern about its decline.“Against this backdrop, equities in Asia are unlikely to be spared pain,” said Tan Boon Heng at Mizuho Bank in Singapore.

“The best thing people can do is to not panic and don’t sell at the bottom,” said Randy Frederick, managing director of trading and derivatives at the Schwab Center for Financial Research,"and we’re probably not at the bottom.” The higher yields mean prices are tumbling for bonds. That happens rarely and is a painful hit for older and more conservative investors who depend on them as the safer parts of their nest eggs.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Markets tumble worldwide, bear market nears on Wall StreetThe Federal Reserve meets again this week and investors are expecting more aggressive moves to slow down the economy with higher interest rates.
Source: wsfa12news - 🏆 338. / 59 Read more »

Markets tumble worldwide, bear market growls on Wall StreetFears about a possible recession are pounding markets worldwide on Monday, and Wall Street’s S&P 500 tumbled into the maw of what’s known as a bear market after sinking more than 20% below its record set early this year We need Trump back. Low gas prices, high stock market. More money in our pockets. Anyone who votes democrat from here on out is mentally challenged.
Source: ActionNewsJax - 🏆 436. / 53 Read more »

Markets tumble worldwide, bear market nears on Wall StreetWall Street is tumbling even more Monday, sending the S&P 500 down more than 20% from its record, amid fears that a recession is more likely given how unshakeable inflation has become.
Source: WTVYNews4 - 🏆 590. / 51 Read more »

Bear market growls on Wall Street as stocks and crypto diveFears about a fragile economy are forcing Wall Street toward what’s known as a bear market, with the S&P 500 tumbling more than 20% below its record set early this year
Source: WOKVNews - 🏆 247. / 63 Read more »