Stock market today: Asian shares mixed after interest rates-driven sell-off on Wall Street

It forecast that even though inflation has surpassed its 2% target, it is likely to subside. That suggests the central bank is still wary of falling back into deflation, or chronically falling prices that can sap economic growth.Hong Kong’s Hang Seng gained 0.9% to 17,816.79 and the Shanghai Composite index climbed 0.8% to 3,110.15.Australia’s S&P/ASX 200 slipped 0.2% to 7,049.20 even as the government reported a $14.

High-growth stocks are typically among the hardest hit by high rates, and Big Tech stocks took the brunt of the pain for a second straight day. Amazon fell 4.4%, Nvidia dropped 2.9% and Telsa lost 2.6%.after it said it would buy Splunk, a cybersecurity company, for roughly $28 billion in cash. Cisco fell 3.9%, while Splunk jumped 20.8%.

A 10-year Treasury is offering a yield of 4.48%, up from 4.40% late Wednesday and from only 0.50% three years ago. It’s near its highest level since 2007. However, a separate report showed manufacturing in the mid-Atlantic region is contracting by much more than expected. A third report showedManufacturing and the housing industry have felt the sting of higher interest rates in particular and have struggled more than the broad job market.

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